Bitcoin: the gambling token that just won't quit. Buffett compares it to roulette, but crypto enthusiasts keep spinning the wheel.
on cryptocurrency came in a January 2018 interview when he doubled-down on fellow Berkshire Hathaway vice chairman Charlie Munger’s previous assertion that Bitcoin was “rat poison” by saying that it was “probably rat poison squared.”
That brings us to his most recent CNBC interview where Buffett’s tone appears to have changed somewhat. When asked when Bitcoin will be “revealed as not just rat poison squared [...] But when it will be unveiled as not a thing,” Buffett shrugged off the question and instead compared the cryptocurrency to gambling:The billionaire then shifted his response to a brief riff on snail mail chain letters, “I didn't like chain letters when I was a kid. I thought why in the world would I send along a chain letter … when I could start my own.
Buffett eventually came back around to his gambling analogy, claiming that Bitcoin users were essentially placing bets with their income: “You had millions of people that were getting checks and the money and sitting home and finding out that they could have a roulette wheel in their house.”
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Legendary Investor Warren Buffett Calls Bitcoin (BTC) 'Gambling Token'Warren Buffett, the Oracle of Omaha, once again slammed Bitcoin (BTC) on CNBC this morning, labeling the cryptocurrency a 'gambling token' with no intrinsic value and echoing his previous criticism
Read more »
Warren Buffett Calls Bitcoin a 'Gambling Token'Berkshire Hathaway's chairman and CEO said bitcoin 'doesn't have any intrinsic value ... but that doesn't stop people from wanting to play the roulette wheel.'
Read more »
Bitcoin Price (BTC) | Bitcoin Value - Investing.comLive Bitcoin price (BTC) including charts, trades and more. Create real-time notifications and alerts to follow any changes in the Bitcoin value.
Read more »
US Presidential Candidate RFK Jr. Says Bitcoin Provides An ‘Escape Route’ From Financial Turmoil – Bitcoin News'Cryptocurrencies like bitcoin give the public an escape route from the splatter zone when this bubble invariably bursts,' Kennedy said.
Read more »
Cleanspark Purchases 45,000 Bitcoin Mining Devices, Adding 6.3 EH/s to Current Fleet – Mining Bitcoin NewsCleanspark announced that it had purchased 45,000 Antminer S19 XP bitcoin mining devices for a total price of $144.9 million.
Read more »
Buffett slams banks and bitcoin, warns of inflation, recession risksLIVE: Warren Buffett talks his Japan bets and the outlook for Berkshire Hathaway
Read more »