Renowned billionaire businessman and CEO of Berkshire Hathaway – Warren Buffett, is back on the headlines again for addressing digital assets, especially bitcoin, as “gambling tokens”.
During an interview with CNBC Squawk Box on Wednesday, Warren Buffett, the most inspiring investor in finance history, delivered his latest critique on digital assets.
He commented on gambling, “The urge to participate in something that looks like easy money is a human tendency which was always there.”
Buffett has referred to Bitcoin as nothing more than a get-rich-quick scheme because its price has exceeded this year and reached its 10-month high at $30K without any intrinsic value, but “that doesn’t stop people from wanting to play the roulette wheel.”
Although the price of bitcoin has fallen from its all-time high, it still shows gains of almost 80% since the beginning of January, while it was trading at the $30,080 mark at press time.
Earlier in 2018, Warren Buffett highlighted that digital assets have the appeasement of being “rat poison squared”.
Charlie Munger, vice chairman of Berkshire Hathaway, has also been critical of digital assets for a long time, and a few months ago, he said that the United States should ban cryptocurrencies like China.
Furthermore, Buffett said people are influenced by looking for an easy way to get rich quickly, but “I don’t blame them.”
