Warren Buffet Calls Bitcoin A Gambling Token

Legendary investor Warren Buffet. (Photo; Doc. Yahoo Style)

JAKARTA - Warren Buffett, one of the most successful investors in history, spoke of bitcoin in an interview at CNBC's Squawk Box event on April 12. As he said earlier in an interview, this wealthy entrepreneur likened bitcoin to a gambling scheme and chain letter he had received as a child.

As reported by Bitcoin.com News, it is common to know that Warren Buffett doesn't like bitcoin, and he once said he won't buy all bitcoin (BTC) in the world at a price of 25 US dollars (IDR 369 thousand).

Buffett was also known to have said that bitcoin was a "quadratic mouse poison," and in an interview on the CNBC Squawk Box on April 12, he again expressed his disapproval of this leading cryptocurrency. In the interview, he concluded bitcoin as a "dwart token," and he said that the world had witnessed "gampet explosions."

The richest man inTENance told CNBC broadcaster he likes to bet on football games because it "makes him more attractive." However, he also warned that he didn't think he wanted to "make a living by trying to bet against the house."

Buffett implies that stimulus checks may also increase the push for gambling. "You have millions of people who receive checks and money, sit at home and find out that they can have a Roulette in their own homes," the investor said. When asked specifically about bitcoin's leading crypto asset (BTC), Buffett said that bitcoin is a gambling coin.

"Bitcoin is a gambling token, and has no intrinsic value but it doesn't stop people from playing Roulettes," Buffet said.

In the midst of Buffett's gambling rhetoric, he also made comparisons with chain letters. Chain letters are messages that are usually sent in plain letters, encouraging recipients to forward messages to a number of people, with promises of getting certain benefits in return.

"I didn't like chain letters when I was a kid," Buffett explained to the hosts on CNBC. "I thought, 'Why should I continue other people's chain letters even though I can start myself?'"

Although the chairman and CEO of Berkshire Hathaway clearly doesn't like bitcoin, he is known for his ability to invest. Berkshire Hathaway has several well-known businesses, such as Geo, Fruit of the Loom, Duracell, BNSF Railway, See's Candies, Clayton Homes, Pampered Chef, and Dairy Queen.