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 The past year has been groundbreaking for Bitcoin. And most recently, cryptocurrencies hit an all-time high: over $ 61,000 per unit - missed by late-to-party investors.

So what do the world's most famous investors think about Bitcoin?

Warren Buffett once said, "He probably stole rat poison."

If you listen to billionaires, cryptocurrency may not be the big financial opportunity you dream of, or if you have a little cash you want to put in the market, this is not the only way to get impressive returns. The same is true for commission-free investment applications.

“I don't have any bitcoin. I don't have any cryptocurrency, I never will, "he told CNBC in 2020.

Here are three reasons why Buffett won't get close to it.

It has 'no unique value'.

Billionaire investors do not like Bitcoin because they consider it an unproductive asset.

Buffett is a well-known choice for corporation stocks whose value - and cash flow - comes from producing things. Buffett said in a CNBC interview in 2020, but cryptocurrencies have no real value.

"They don't reproduce, they can't mail you a check, they can't do anything, and you hope someone else comes along and pays you more for it later, but then that person has a problem."

Although Bitcoin is intended to provide real value as a payment system, its use is still very limited. As Buffett observed, the value of Bitcoin comes from the optimism that you will be willing to pay more for it in the future than you pay today.

He doesn’t think crypto counts as money

As a tradable asset, Bitcoin boomed. But does it meet the three criteria of money? By the most common definition, money is considered a means of exchange, a store of value, and a unit of account.

But Buffett calls it a "mirage."

"It doesn't meet any currency test," the billionaire told CNBC in 2014 It. It is not a sustainable tool of exchange, it is not a store of value. "

He adds that it is a very effective way to transmit money anonymously. But: "Checks are also a way to transmit money," he said. "Is the whole money check just so they can transmit the money?"

He doesn't understand

Buffett became the most successful investor in history by sticking to the stocks he understood.

"I think I get into enough trouble with things I know about. Why should I take a long or short position in something I don't know anything about in the world?"

But people prefer to gamble, he told CNBC after the 2018 Berkshire Hathaway annual meeting, which is another problem of non-productive wealth.

“If you don’t understand it, you’ll be more excited than you understand it. It can be anything you want to imagine if you see something and say, 'It's magic.'

How does Buffett choose the winning stocks?

Billionaire investors follow a value investment strategy - focused on buying invaluable stocks of strong companies and holding them for a long time.

Easy, right?

Berkshire Hathaway looks for companies with good profit margins and companies that make unique products that cannot be easily replaced. Warren Buffett once said in a letter to his shareholders, "It is better to buy a wonderful company at a reasonable price than a beautiful company."

But Buffett’s vague sense for crypto stocks doesn’t mean you shouldn’t buy bitcoin. Billionaires have also come to the areas against which they have spoken out earlier.

He avoided notoriety in tech stocks, even at the height of the dotcom bubble, and now his company's largest holding is Apple Pal.

You can start investing today

Bitcoin has enriched many along the way. But that doesn’t mean you’ve lost the boat to invest - listen to Buffett’s words of wisdom.

Found a company you trust? Even if you don’t float in cash, a popular investment app allows you to buy company pieces for as little as 1.

You can invest in stocks, options, exchange-traded funds (ETFs), and, alas, fractions of cryptocurrencies. There are no fees and commissions and when you sign up, a free share of the stock will be added to your account to help you get started.

Or you can just shop at your spare conversion companies, using a separate app that takes your debit and credit card purchases to the nearest dollar and invests the remaining pennies.

If you're interested but scared, that's normal. Don't be afraid to seek expert advice before hitting the stock market. Today, there are certified financial planners who will work with you to create a personal investment plan.