Li Lu says crypto will eventually disappear on its own

The value investor known as China's Buffett told a Columbia audience that crypto lacks the state enforcement money needs to survive Li Lu, the value investor often called “China’s Buffett,” has a blunt forecast for crypto. He thinks it will fade out of existence without anyone needing to push it. Speaking at Columbia Business School’s 36th Annual Graham & Dodd Event on October 15, 2026, Lu described crypto as fake. His core argument is that digital assets lack the enforcement power that only governments provide. Without that power, he argues, crypto cannot do the job that money is supposed to do. Lu’s critique rested on one structural point. Crypto, in his view, lacks “the enforcement mechanism of sovereign states.” From there, he drew a sweeping conclusion.

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