Buffet Says Cryptocurrency is a Gamble, Not Investing

By Mason Mohon | @mohonofficial

World-renown investor and head of Berkshire Hathaway Warren Buffet spoke out once again against cryptocurrency recently.

Ahead of the 2018 annual shareholders meeting for his organization, he told Yahoo! Finance:

You aren’t investing when you do that… You’re speculating. There’s nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing.

Buffet’s statements are much less fiery than the earlier statements of Charlie Munger, chairman of Berkshire Hathaway, who referred to bitcoin as a noxious poison.

I never considered for one second having anything to do with [bitcoin], I detested it the minute it had been raised. The more popular it got, the more I hated it. It’s just disgusting that people have been taken in by this.

Buffet continued that there are “two kinds of items that people buy and think they’re investing,” but “One really is investing and the other isn’t.” Buffet’s organization holds a lot of weight in the realm of finance, being one of the biggest investment organizations in the world.

Warren Buffet is the most famous popular investor, which means that his own statements also carry a lot of influence.

Many influential individuals have come out against various cryptocurrencies in much more visceral manners, making Buffet seem much more docile.

Featured Image Source.

1 thought on “Buffet Says Cryptocurrency is a Gamble, Not Investing”

Comments are closed.