Warren Buffet is at it again: 'BTC is a gambling device, full of frauds'

04 May, 2019 | Updated: 04 May, 2019
by Joeri Cant
Bitcoin
Warren Buffet is at it again: 'BTC is a gambling device, full of frauds'

Berkshire Hathaway CEO Warren Buffet, AKA the Oracle of Omaha, took yet another swing at Bitcoin, saying that BTC is a gambling device with a lot of frauds connected with it.

According to CNBC, Buffett told a group of reporters ahead of Berkshire Hathaway’s annual meeting at the CHI Health Center in Omaha, Nebraska, that Bitcoin is a gambling device.

'It’s a gambling device', he said. 'there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it.'

'It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me', he added.

Buffet even tried to compare Bitcoin to a button on his jacket.

'I’ll tear off a button here. What I’ll have here is a little token...I’ll offer it to you for $1000, and I’ll see if I can get the price up to $2000 by the end of the day... But the button has one use and it’s a very limited use', Buffett said.

If we have to guess, we would say that Buffet's button is most likely more expensive than Bitcoin's value today.

Of course, Buffet's button is not going to rise much in value, while Bitcoin has all the signs that one day it will go parabolic once again.

Think about that, Buffet, before you start tearing off your jacket buttons.

Chris Burniske, a leading cryptocurrency analyst, pointed out that Buffet in the past had also said it was due to his own stupidity that he didn’t invest in Amazon early, and has since changed his tune and will do the same with Bitcoin.

Max Kaiser, one of the best-known Bitcoin pioneers in the crypto Twitter space, just wants to make sure Buffet gets trolled at the Berkshire’s annual meeting and promises an interview to those who manage to read aloud one of his tweets about Buffet.

The Bitcoin defendant isn't all too fond of Buffet as we all know.

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