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Warren Buffett: "Bitcoin is a gambling token"

American investor Warren Buffett takes another swing at Bitcoin.

By Mike Hesp
• 2 min read

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The American investor Warren Buffett takes another swing at Bitcoin. The crypto community is reacting with humor.

In a View post on X with CNBC Squawk Box, Warren Buffett, CEO of Berkshire Hathaway, commented on Bitcoin and the crypto market. Bitcoin is a "gamblers token" and has no intrinsic value, the billionaire explained. The 92-year-old compared the crypto market to a roulette wheel and slot machines.

Crypto investors felt "the urge to join in on what looks like easy money." FOMO and the Bitcoin hype have led to "bad investment decisions," he adds.

Warren Buffett is regarded as a legend among American investors. His net worth is more than $124 billion. He has long been known for his ongoing criticism of Bitcoin.

The crypto scene fires back: "Buffett is probably calling tech support to set up his PC monitor. I’m sticking with Bitcoin." Still, you can conclude that Buffett is more positive about Bitcoin than a while ago. Earlier the investor called Bitcoin rat poison, which sounds more negative than "gambling token".

View post on X

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