Warren Buffett Calls Bitcoin a ‘Gambling Token’

Warren Buffett Calls Bitcoin a ‘Gambling Token’

by Virtusenews
17. April 2023
Warren Buffett Calls Bitcoin a ‘Gambling Token’

Billionaire investor Warren Buffett described bitcoin (BTC) as a “gambling token” in an interview with CNBC on Wednesday.

Echoing the dour opinion of the cryptocurrency that he has aired in the past, the Berkshire Hathaway (BRK.A) chairman and CEO said bitcoin “doesn’t have any intrinsic value … but that doesn’t stop people from wanting to play the roulette wheel.”

Commenting on gambling in general, Buffett said: “The urge to participate in something that looks like easy money is a human instinct which was always there.”

Buffett is well known to be no fan of bitcoin, having referred to it as “probably rat poison squared” in 2018.

His top deputy, Berkshire Hathaway Vice Chairman Charlie Munger, has been even more outspoken over his disdain for cryptocurrency over the years, earlier this year calling for the U.S. to copy China and ban it.

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