Businessman Warren Buffett has a reputation as one of bitcoin’s most outspoken critics. The flagship crypto’s unexpected trends in recent weeks are unlikely to change its mind.
Bitcoin, a “gaming token” with no intrinsic value
It’s no secret that US billionaire Warren Buffett hates cryptos and bitcoin (BTC). And his opinion does not waver in the face of recent breakthroughs in the flagship crypto. Wednesday, April 12, the businessman spoke about the asset, a new time. An opportunity he once again seized to knock out the queen of cryptos. For him, the latter would have no intrinsic value.
BTC is no better, he says, than a gaming token. “Bitcoin is a gaming token and has no intrinsic value. But that doesn’t stop people from wanting to play roulette.” dropped the business tycoon, in an almost trivial tone.
This isn’t the first time that Warren Buffett has spoken so trashily about bitcoin. On several occasions, he referred to BTC as “squared rat poison”or even “mirage” that attracts charlatans!
The investor represents with his partner Charlie Munger, a pair of harsh critics on cryptos and their potential. For them, they are this untrustworthy asset class. This, because of their excessive price variation and their intrinsically speculative nature.
And it is certainly not Anthony Scaramucci, the founder of the investment firm SkyBridge Capital, who will convince them otherwise. The latter does not hesitate to crop anti-crypto billionaires like Warren Buffett. He believes that the latter do not fulfill their obligations vis-à-vis cryptos to have the right to criticize them.
Note that recently, some information contrary to the billionaire’s position in relation to cryptos has leaked. He is said to have invested nearly $500 million in a Brazilian financial institution favorable to the growing crypto market. Buffett would he have turned his jacket?
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