Warren Buffett says he wouldn't pay $25 for all the bitcoin in the world — and Charlie Munger blasts the crypto as 'stupid' and 'evil'

During the annual shareholder meeting on Saturday, Warren Buffet and Charlie Munger opened fire on thecryptocurrencies.

If you told me that you owned all the bitcoins in the world, I wouldn't take it.

He said he would buy farmland or some of the nation's apartments. He said that holders of the currency rely on someone else being willing to pay more for it than they did, and that it isn't worth anything because it doesn't produce anything.

It has a magic to it, but people have attached magic to a lot of things.

Munger spoke harshly about the most valuablecryptocurrencies.

Munger said that he tries to avoid things that are stupid, evil and make him look bad in comparison to someone else.

The billionaire investor said that holding the virtual currency makes the US look foolish because it undermines the integrity and stability of the financial system.

In the past, Buffett has dismissed the virtual currency as rat poison squared, and described it as a worthless delusion. Munger called for the US to ban it, and compared it to a venereal disease.

Warren Buffet is on a buying spree. The investor spent $23 billion on three purchases.