Speaking at a recent interview with CNBC, the well-known American business magnate Warren Buffet defined Bitcoin (BTC) as a gambling token.
The popular investor also said the leading cryptocurrency has no intrinsic value.
- During the interview, Buffet implied that all those negative facts about Bitcoin are not enough to dissuade investors.
- The worldwide-known CEO of Berkshire Hathaway also previously called Bitcoin a delusion.
- Buffett’s
right-hand man, Charlie Munger, similarly showed a similar approach to
the crypto industry in an interview, saying that investors should never
touch crypto.
- Bitcoin has increased by 80% in value since the beginning of the year.
- The
leading cryptocurrency surged nearly 46% over the last 30 days
following the U.S. banking crisis that led to investors losing
confidence in the traditional financial system.
- March
saw the consecutive collapses of crypto-friendly Silvergate Bank,
Silicon Valley Bank (SVB), and Signature Bank within just a week, paving
the way for a banking crisis.
