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Warren Buffett took aim at bitcoin, calling the crypto intrinsically worthless, and referring to it as a "gambling token".
Crypto markets continue to surge in recent weeks with Bitcoin hovering just under the $30,000 mark.
"It doesn't have any value, but that doesn't stop people from wanting to play a roulette wheel," the 92 year old told CNBC.
Buffett is among the richest men in the world.
"[You could] spend the rest of your life spinning around the roulette wheel because they feature the winners and people get excited about it," Buffett said. "[But] that's why the slot machines make a lot of noise without paying out."
"#Bitcoin is a gambling token and it doesn't have any intrinsic value. But that doesn't stop people from wanting to play the roulette wheel," says Warren Buffett on #crypto. pic.twitter.com/6MQAiyrS5J
— Squawk Box (@SquawkCNBC) April 12, 2023
"The urge to participate in something [that] looks like easy money is a human instinct," he added. "I've always wanted to get rich slow and I have a lot of fun along the way."
BSV Profiled on Fox Business
BSV advocate Kurt Wuckert Jr. appeared on FOX Business Wednesday to discuss the right balance for digital currency regulation.
My thoughts on the right amount of regulation for the blockchain economy in a fun discussion with @KennedyNation last week.
— Kurt Wuckert Jr GorillaPool.com (@kurtwuckertjr) April 10, 2023
"Terrorism" is a little hyperbolic, but if people are going to use these assets exclusively for asymmetric investments, then they'll be treated that way! pic.twitter.com/ZOP4Xr8UUd
Wuckert Jr. called the current crypto space a fight between investment and utilities.
Host Kennedy noted that the folks who are really mad at crypto used it as an investment tool and they lost money (perhaps getting some of it back in recent weeks).
"If we were using this on a day-to-day basis in a way that shows more utility we wouldn't be in this pickle," Kennedy observed.
Wuckert Jr. agreed and discussed the issue further. You can watch above.
- Aaron Goldstein, Gambling911.com
