Famous billionaire Warren Buffett made comments that insulted Bitcoin in a program he attended.
Billionaire Warren Buffett made comments about Bitcoin in a program he attended on CNBC. Buffetti compared Bitcoin to roulette and sports gambling. He said bitcoin was a “gambling boom.”
Buffett: We Had a Gambling Boom
Billionaire businessman Warren Buffett made comments on the markets in a program he attended on CNBC. “We had a gambling boom,” Buffett said when it came to the cryptocurrency market.
“We had a gambling boom,” he said in an interview with CNBC, criticizing the cryptocurrency market. This statement revealed that Buffett’s historical stance towards Bitcoin has softened. In an interview with Dan Gilbert, who participated in the Squawk Box program in 2014, Buffett said that Bitcoin is “a mirage” and claimed that the intrinsic value of Bitcoin is a joke.
"People like to play the lottery," says Warren Buffett on the crypto craze. "It's appealing to the gambling instinct. We've had an explosion of gambling." pic.twitter.com/pjNEKdNgr1
— Squawk Box (@SquawkCNBC) April 12, 2023
Refraining from speculating about Bitcoin’s longevity in another 2014 CNBC interview, Buffett said that Bitcoin cannot be considered a currency. He stated that at the time, Bitcoin was tied to the value of the dollar. Buffett’s most famous quote about cryptocurrencies came in an interview in January 2018. Joining Berkshire Hathaway vice president Charlie Munger’s previous remarks that Bitcoin is “rat poison,” Buffett said that Bitcoin is “probably rat poison squared.”
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