“Bitcoin is a gambling token, and it doesn't have any intrinsic value,” Warren Buffet told the Squawk Box hosts on Wednesday.
Bitcoin is a gambling token, and it doesn’t have any intrinsic value — but that doesn’t stop people from wanting to play the roulette wheel.
In the midst of Buffett’s gambling rhetoric, he also made a comparison to chain letters. Chain letters are messages that were commonly sent through snail mail, encouraging the recipient to forward the message to a certain number of people, promising that they would receive some sort of benefit in return. “I didn’t like chain letters when I was a kid,” Buffett explained to the CNBC show hosts.
While the chairman and CEO of Berkshire Hathaway clearly doesn’t like bitcoin, he is known for his aptitude for investing. Berkshire Hathaway owns several well-known businesses, such as Geico, Fruit of the Loom, Duracell, BNSF Railway, See’s Candies, Clayton Homes, Pampered Chef, and Dairy Queen. According to the
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