Warren Buffet Bashes Bitcoin Again, Calling It A ‘Gambling Device’

by | May 7, 2019 | Bitcoin, Cryptocurrency, Cryptocurrency News

Warren Buffet | Bitcoin | Bashing | Blockchain | Cryptocurrency

Warren Buffet aka Sage of Omaha and a vocal Bitcoin (BTC) basher goes after the flagship cryptocurrency once again. At the Berkshire Hathaway’s annual meeting in Omaha, Nebraska, Buffet announced to the reporters that he still couldn’t support bitcoin.

He stated:

“It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything. It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me.”

Pointing towards a button on his jacket, Buffet added that he could call it a token and charge $1,000 for it, wrote CNBC. He elaborated:

“What I’ll have here is a little token…I’ll offer it to you for $1,000, and I’ll see if I can get the price up to $2,000 by the end of the day… But the button has one use and it’s very limited use.” 

Previously, Buffet called out bitcoin as “delusion” but appreciated its underlying technology blockchain as ingenious. Last year he called it “rat poison squared” and said it was a nonproductive asset.

When the reporters asked Buffet about if he’d ever be involved in the technology, he replied: “I wouldn’t be the person to be a big leader in blockchain.”

Read more: Reports Suggest More Than 50% of Bitcoin Cash Transaction Are From A Single Address

Image source – Pixabay.com

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