One of the most famous investors in financial history has once again expressed his feelings about bitcoin. Specifically, Warren Buffet called bitcoin a “gambling token,” in a recent interview.
Buffet has long been a billionaire with a negative view of cryptocurrencies. Appearing many times in the media, Buffet is not afraid to criticize cryptocurrencies and bitcoin, once calling bitcoin “rat poison” and saying that the cryptocurrency market will soon collapse.
Buffet continues to criticize bitcoin
Recently, appearing on CNBC’s Squawk Box, Warren Buffett called Bitcoin a “gambling token,” when he questioned the overall value of bitcoin. According to him, bitcoin will never create any value.
Buffett stated, “Bitcoin is a gambling token and it doesn’t have any intrinsic value.” However, he also noted that the fact that he alone cannot prevent investors from entering the market This.
“No matter what I say, it won’t stop people from buying bitcoin,” he said.
In the past, Buffett has called bitcoin and cryptocurrencies an “illusion,” adding some rather nasty criticism. However, his latest bitcoin comments are interesting, as they come at a time when the cryptocurrency is doing extremely well. Specifically, bitcoin is up more than 80% this year.
In addition, Buffett’s investment views seem to be rooted in what he believes to be valuable. Indeed, it seems that popular investors consider digital assets like bitcoin to be speculative in nature. Thus, observing its volatility underlies his perception of bitcoin as an investment gamble.
Buffett’s right-hand man, Charlie Munger, has also expressed a similar view on cryptocurrencies. Previously, in an interview with an Australian financial magazine, Munger advised new investors to “never touch cryptocurrencies”.
See also: 75% of Americans are uncertain about the safety and reliability of Bitcoin and Ethereum