Do not Invest in nonproductive assets like cryptocurrencies, says Warren Buffett, Chairman and CEO, Berkshire-Hathaway.

“Anytime you buy an asset that can’t do anything, produce anything, you’re simply betting on whether somebody else will pay more for [the Greater Fool Theory], again, an asset that can’t do anything…

“I would bet on good-producing businesses to outperform something that doesn’t do anything over any period of time.” ~ Warren Buffett

— 2011 BERKSHIRE ANNUAL MEETING

“Cryptocurrencies basically have no value and they don’t produce anything. They don’t reproduce, they can’t mail you a check, they can’t do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person’s got the problem. In terms of value: zero…I don’t have any cryptocurrency and I never will.”

— 2020 CNBC Squawk Box interview.

“It draws in a lot of charlatans who are trying to create various sorts of exchanges or whatever it may be. It’s something where people who are of less than stellar character see an opportunity to clip people who are trying to get rich because their neighbor’s getting rich buying this stuff that neither one of them understands. It will come to a bad ending.”

— 2018 shareholder meeting (and four years before FTX and Sam Bankman-Fried alleged fraud)