Today, the billionaire investor Warren Buffett doubled down on his criticism of Bitcoin, suggesting once more that the asset is nothing more than a get-rich-quick scheme.
In an interview with CNBC on Wednesday, the CEO of Berkshire Hathaway said he didn’t fault individuals for wanting to invest in “easy money.”
The “Oracle of Omaha” has been an outspoken critic of Bitcoin from its inception, once describing it as “rat poison squared” with “no unique value at all.”
And today he continued his critique. “Like Bitcoin, it’s a gambling token,” he said on the CNBC program Squawk Box. “The desire to participate in something that appears to offer easy money is a natural human instinct that has always existed”
He went on to say, “It’s so human. People enjoy the notion of getting wealthy quickly, and I don’t blame them,” before adding that Bitcoin has no value but people still want to invest in it by “playing the roulette wheel.”
Buffett, one of the world’s wealthiest individuals with an estimated net worth of $111 billion, amassed his fortune through long-term investments in companies he deemed to have genuine value.
Despite his repeated attacks on Bitcoin, the traditional investor has previously praised blockchain technology, claiming it could become a “disruptive” force in the financial sector.
Buffett’s business colleague Charlie Munger has gone even further in his criticism of Bitcoin by placing it in the same category as child exploitation.
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