Warren Buffett still sees bitcoin as a ‘gambling token’

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  • Bitcoin is up again after the US inflation data on Wednesday.
  • Warren Buffett reiterates that BTC has no intrinsic value.
  • BTC is currently up 80% since the beginning of the year.

Bitcoin It’s climbed 80% since the beginning of the year but the “Oracle of Omaha” still isn’t convinced it’s an investable asset.

Buffett reiterates his views on bitcoin

Veteran investor Warren Buffett continues to refer to bitcoin as “rat poison squared”. Spending money on it, he reiterated today, is more akin to gambling than investment.

Bitcoin is a gambling coin and has no intrinsic value, but that doesn’t stop people from playing the roulette wheel.

Buffett is one of the most notable critics of cryptocurrencies at large.

Interestingly, however, his conglomerate Berkshire Hathaway raised its stake a day earlier Sumitomo Corporation Despite the Japanese trading company’s association with Ripple.

Bitcoin Up After US Inflation Data Today

Bitcoin Trading Comfortably Above the $30,000 Level on Wednesday Updates From the US Bureau of Labor Statistics which confirmed that inflation is easing in March.

And Buffett agreed that there’s no telling when the upside will end. on CNBC’ssquawk box“, They said:

It is predicting when the speculation will end, when the gambling trend will fade away, when more people will want to get out. If I was good at it, I would make a lot of money in different things.

Remember that the total supply of bitcoin is due in April or May of next year – an event that has historically caused more upside in BTC.

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