Warren Buffett Explains "Intrinsic Value" in 5 Minutes (And Why Bitcoin Has Zero) скачать в хорошем качестве

Warren Buffett Explains "Intrinsic Value" in 5 Minutes (And Why Bitcoin Has Zero)

Warren Buffett breaks down the difference between price and intrinsic value through simple examples—a farm, an apartment building, a real business—each produces cash flow. By that test, Bitcoin fails: it generates no dividends, rent, or profits and relies on the “greater fool” dynamic of selling to someone else at a higher price. Buffett contrasts Bitcoin with gold (limited utility and long cultural history) and with real money like the U.S. dollar (backed by law, taxes, and broad usability). He reviews crypto’s boom-bust record—Mt. Gox, Terra/Luna, FTX—along with extreme volatility, hidden leverage, and heavy energy use. While he concedes Bitcoin can be a lifeline in failing currencies, he argues that doesn’t justify trillions in market value or make it a sound hedge for stable economies. His takeaway echoes Ben Graham: Price is what you pay; value is what you get. Own productive assets with durable cash flows—and avoid what you don’t truly understand. #WarrenBuffett #IntrinsicValue #ValueInvesting #BitcoinDebate #GreaterFoolTheory #BenGraham