US billionaire investor Warren Buffett, in an interview with CNBC on Wednesday, compared Bitcoin to a gambling token, with no intrinsic value
WASHINGTON (Pakistan Point News / Sputnik - 12th April, 2023) US billionaire investor Warren Buffett, in an interview with CNBC on Wednesday, compared Bitcoin to a gambling token, with no intrinsic value.
"Something like Bitcoin, you know, it is a gambling token and it doesn't have any intrinsic value," Buffett said.
Buffett also noted that the low value of the leading cryptocurrency does not prevent people from buying it.
He also said that Americans across the country are in effect gambling, choosing different coins against each other.
"Easy money is a human instinct that has been unleashed," Buffett said, adding that he does not blame people for such behavior.
After a prolonged period of maintaining a low price, Bitcoin reached a mark of $30,000 on Tuesday, which experts have called a key psychological level.
