‘Bitcoin is a gambling token and it doesn't have any intrinsic value’ — Warren Buffett
The nonagenarian said there’s been an “explosion of gambling” while comparing Bitcoin to roulette, sports booking, and chain letters. Warren Buffett once again took up his familiar role as conductor of the FUD train in yet another anti-cryptocurrency interview with CNBC’s Squawk Box on April 12. “We’ve had an explosion of gambling ,” the magnate told CNBC by way of describing the cryptocurrency market. He then added “I like to bet on a football game if I’m sitting and watching, it makes it more interesting. But I don’t think I want to make a living trying to bet against the house.” This represents somewhat of a softening of Buffett’s historical stance on Bitcoin (BTC) and cryptocurrency. Over the years, he’s made a habit of downtalking crypto with some of his most controversial quotes coming from previous CNBC interviews. "People like to play the lottery," says Warren Buffett on the crypto craze. "It's appealing to the gambling instinct. We've had an explosio...
