The legendary investor has reiterated his bearish stance on Bitcoin (BTC), calling it a 'gambling token' with no intrinsic value
Labeling the digital currency a"gambling token" with no intrinsic value, Buffett's comments reiterate his long-standing skepticism towards the world's largest cryptocurrency by market capitalization.
Buffett compares Bitcoin and other cryptocurrencies to gambling activities such as roulette and slot machines. He highlights that people may be drawn to the excitement of potential winnings and the allure of success stories. He then mentions the differences in odds on a roulette wheel and the noisy payouts of slot machines, illustrating the psychological aspects that drive people to participate in these games. The legendary implies that the hype around cryptocurrencies, fueled by sensationalism and the fear of missing out, might lead people to make poor investment decisions.
Buffett expresses is not sure how to reverse this trend."I don't know how to turn back the clock on that," he said. In the past, the Oracle of Omaha famously referred to the cryptocurrency as"rat poison squared" and has consistently warned investors against putting their money into the volatile digital asset.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Bitcoin Price (BTC) | Bitcoin Value - Investing.comLive Bitcoin price (BTC) including charts, trades and more. Create real-time notifications and alerts to follow any changes in the Bitcoin value.
Weiterlesen »
Warren Buffett may buy more Japanese stocks as Berkshire eyes yen bondsWarren Buffett's Berkshire Hathaway may issue bonds priced in yen, potentially signaling more Japanese stock buys
Weiterlesen »
Warren Buffett-backed BYD announces new shock absorption tech for premium EVsElectric vehicle giant BYD is banking on new driver-assist technology to smooth out car rides and get the edge on its EV competition.
Weiterlesen »
Warren Buffett considering additional investment in Japanese stocks – NikkeiJapan’s media outlook, the Nikkei Asian Review, is citing that Warren Buffett is considering additional investment in Japanese stocks, per Reuters. Ad
Weiterlesen »
Japanese trading houses rise as Warren Buffett says he plans on buying moreBuffett said he was 'very proud' of these investments and that he plans to meet with the companies to emphasize Berkshire Hathaway's support.
Weiterlesen »
Japanese trading houses rise as Warren Buffett raises stakes and says he may buy moreBuffett said he was 'very proud' of these investments and that he plans to meet with the companies to emphasize Berkshire Hathaway's support.
Weiterlesen »