Legendary investor Warren Buffett, whose fortune is estimated at $100 billion, believes that buying bitcoin is not investing, but rather speculation or even gambling. This idea the head of Berkshire Hathaway said during an interview with Yahoo Finance.
“There are two types of things that people buy, at the same time believing that the invest — said Buffett. — The first type is a real investment and the other is not”
According to him, bitcoin belongs to the second type.
“If you buy something like a farm, houses or shares in the company… You can do it on a private basis… This is quite a good investment. You are considering investment that will bring you income. Now, if you buy something like bitcoin or any cryptocurrency, then you have, in fact, there is nothing that might produce anything. You just hope that the next guy will pay more,” — said Buffett.
It is noteworthy that despite the criticism of the new asset class, Warren Buffett sees nothing wrong with buying cryptocurrencies, because, according to him, it resembles a game of chance:
“You don’t invest when you do that. You speculate. This is nothing wrong. If you want to play casino games, somebody else will come tomorrow and pay more money. It’s a game. This is not investing”
We will remind, earlier the CEO of crypto currency exchange Binance Chanpen Zhao said that although Buffett and is an internationally recognized expert in cryptocurrencies, he knows nothing about.