{"id":77135,"date":"2023-04-13T11:47:08","date_gmt":"2023-04-13T08:47:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77135"},"modified":"2025-09-10T21:36:13","modified_gmt":"2025-09-10T18:36:13","slug":"warren-buffett-calls-bitcoin-a-gambling-token","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/warren-buffett-calls-bitcoin-a-gambling-token\/","title":{"rendered":"Warren Buffett calls Bitcoin a &#8216;gambling token&#8217;"},"content":{"rendered":"<p>Bitcoin has no intrinsic value, but that does not stop people from wanting to play roulette. Buffett said this in an interview with CNBC.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">&#8220;<a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> is a gambling token and it doesn&#8217;t have any intrinsic value. But that doesn&#8217;t stop people from wanting to play the roulette wheel,&#8221; says Warren Buffett on <a href=\\\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\\\">#crypto<\/a>. <a href=\\\"https:\/\/t.co\/6MQAiyrS5J\\\">pic.twitter.com\/6MQAiyrS5J<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\\\"https:\/\/twitter.com\/SquawkCNBC\/status\/1646135432982286338?ref_src=twsrc%5Etfw\\\">April 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Buffett noted that people have a propensity to pursue &#8216;easy money&#8217;\u2014a trait baked into human nature.<\/p>\n<p>The billionaire is known for his criticism of Bitcoin. In February 2020 he called the first cryptocurrency &#8216;a total zero&#8217; and valueless. In May 2022 he<a href=\"https:\/\/forklog.com\/en\/news\/warren-buffett-again-questions-bitcoins-value\"> stated<\/a> that he would not entertain the hypothetical possibility of buying all the bitcoins for $25.<\/p>\n<p>Earlier Buffett predicted the demise of the crypto industry. Speaking of digital gold, he used terms such as &#8216;rat poison squared&#8217; and &#8216;the illusion of having no intrinsic value&#8217;.<\/p>\n<p>Buffett&#8217;s ally, Berkshire Hathaway vice chairman Charlie Munger, shares similar views.<\/p>\n<p>In 2022 the executive called cryptocurrencies<a href=\"https:\/\/forklog.com\/en\/news\/charles-munger-calls-cryptocurrencies-an-investment-in-nothing\"> &#8216;an investment in nothing&#8217;<\/a> and drew a parallel between digital assets and<a href=\"https:\/\/forklog.com\/en\/news\/charles-munger-likens-cryptocurrencies-to-a-disease-and-praises-china-for-its-ban\"> &#8216;a venereal disease&#8217;<\/a>. Earlier he <a href=\"https:\/\/forklog.com\/en\/news\/berkshire-hathaway-rules-out-investing-in-bitcoin\"> compared Tesla and Bitcoin to &#8216;lice and fleas&#8217;<\/a>, and also questioned whether digital gold could &#8216;become a global means of payment&#8217;.<\/p>\n<p>Back in February 2023, Munger proposed following China&#8217;s example and<a href=\"https:\/\/forklog.com\/en\/news\/charles-munger-proposes-banning-cryptocurrencies-in-the-united-states\"> banning cryptocurrencies<\/a> in the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has no intrinsic value, but that does not stop people from wanting to play roulette. Buffett said this in an interview with CNBC.<\/p>\n","protected":false},"author":1,"featured_media":77136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1542],"class_list":["post-77135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-warren-buffett"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=77135"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77135\/revisions"}],"predecessor-version":[{"id":77137,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77135\/revisions\/77137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/77136"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=77135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=77135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=77135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}