Warren Buffett, an American entrepreneur and legendary investor, once again criticized bitcoin. IN CNBC interview he compared the love of bitcoin to the desire to play roulette.
“#Bitcoin is a gambling token and it doesn’t have any intrinsic value. But that doesn’t stop people from wanting to play the roulette wheel,” says Warren Buffett on #crypto. pic.twitter.com/6MQAiyrS5J
— Squawk Box (@SquawkCNBC) April 12, 2023
92-year-old Buffett believes that people tend to seek “easy money”, because it is inherent in their nature.
“People like to gamble. This action appeals to our hunting instinct. But I don’t want to play a game in which the other guy has an advantage in advance. I like to bet on a football match, it makes the game more interesting. However, I don’t want to make a living betting against the casino,” Buffett said.
The billionaire is one of the most notorious enemies of bitcoin. He is known for once calling the first cryptocurrency “rat poison squared”. Most often, he laments that digital assets have no real value. Buffett has been repeatedly pointed out that cryptocurrencies can be used in dozens of different ways, but the investor continues to stand his ground.
Last year, during his annual speech to Berkshire Hathaway shareholders, Buffett commented on the growing interest in the cryptocurrency market. The billionaire investor noted that while he has no idea if the value of bitcoin will increase over time, he is confident that bitcoin does not produce anything.
Buffett announced that he would be happy to write a $25 billion check today for 1% of farmable land or apartment buildings in the United States, because both are undoubtedly beneficial, but he would not spend even $25 to buy all of them. bitcoins: “If you told me that you own all the bitcoins in the world and offered me to buy them for $25, I would not agree, because … what would I do with it? I’ll have to sell it to you one way or another. It doesn’t produce anything. Apartments will generate rent and farms will produce food. Assets, in order to have value, must deliver something to someone.”
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