Warren Buffett Blasts Bitcoin as ‘Gambling Token’ as BTC Surges 35% in 30 Days
Warren Buffett, billionaire investor and CEO of Berkshire Hathaway, has once again criticized Bitcoin, calling it a “gambling token” with “no unique value at all” and asserting that it is a get-rich-quick scheme that appeals to people’s desire for easy money. Despite his criticism, Buffett has previously praised blockchain technology for its potential as a disruptive force in finance. His business partner, Charlie Munger, has gone further in his criticism, comparing Bitcoin to child trafficking. Nevertheless, Bitcoin has been on a roll in 2022, hitting the $30,000 mark for the first time in 10 months on Monday, though it has since dropped to around $29,842. While this is a cause for celebration for some investors, those who bought at the top in 2021 are still down 56% from Bitcoin’s all-time high of just above $69,000.
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