Topic: Warren Buffett Blasts Bitcoin as 'Gambling Token' as BTC Surges 35% in 30 Days (Read 409 times)

Heheheh in an argument when you tell someone that he has no right, it really implies that he is being unreasonable or unfair hehe. It does not mean that he really has no legal right hehehehe. However, yes he can tell everyone his opinion, similar to I have a right to share any news.

Warren Buffett is one of the influencers and billionaire people should not believe or have any slight feelings toward the negative statement he made about Bitcoin because people like him will never support BTC publicly due to something that's on the line per his reputation in Berkshire Hathaway Inc.
I believe he learned more than enough about BTC from Justin Sun when they had dinner some years ago and he's just playing politics.


Best investors? Black Rock Inc is doing better than him and they never make noise about it. Besides, only a few people know about them and they have a stake in almost all the best companies around the world.

Warren Buffet cannot be convinced, he’s consistently spoke against bitcoin for a long time, I think Warren like every other person is entitled to his own opinion, his criticism of bitcoin is inconsequential and does not in any way affect the crypto market. I don’t think people who idolize Warren Buffet are pro bitcoin so it’s not like he’s changing anyone’s mind to be against bitcoin. We just have to accept the fact that not everyone will buy bitcoin, some will miss the train, bitcoin will achieve great heights regardless.

Funny how he's throwing all these shades at bitcoin and crypto when his finance company just sold their Visa Holdings in exchange for crypto. What an utter hypocrite if I do say so myself. He's a profound speaker and a tome of wisdom, all right, but when it comes to pure investment advice I'd rather take my money elsewhere. He got lucky on a single investment and banked his whole identity around it (correct me if I were wrong tho) and now thinks he's the best investor in the planet. Pretty funny if you ask me.

I'd rather not take advice or statements from people who are as old as him, they literally didn't know how the world works, and are the same people who thought that the internet is a fad that people will get tired of in the past. So no, I'll indeed take my money elsewhere.

He or anyone else has the right to criticize anything and anyone if we live in a democratic society where every individual has the right to express his opinion. What's wrong is that after 10 years of his criticism of Bitcoin, you or anyone else still finds such news worthy of attention.

Bitcoin, stocks, gold... are all assets, and how to use them is each person's behavior. Just because some people use it to gamble that he hastily declared that it is gambling, he is too stupid. Bitcoin is still being used as a currency in some countries, and I don't see him mentioning it?

He doesn't like bitcoin, and he has the right to criticize bitcoin because it's his right. Like we don't like fiat, and we still criticize it every day. It's just one person's opinion, and you don't have to worry about it. For me, just focus and do my job well with bitcoin, ignore all the nonsense because it brings no benefit.

I reckon it might not be very nonsensical because much of the people who have gone into bitcoin are also here to speculate on the price, trading on leverage and to get rich quick. However, what we can also argue is it is very much similar to the stock market and the other markets of traditional finance. Traditional finance is a much larger casino than the cryptospace so uncle Warren does not have the right to criticize us.

We're tired of encountering FUD and nonsensical comments, but even Bitcoin seems fatigued and unresponsive to such remarks. Nevertheless, Bitcoin remains in bull mode. Although Bitcoin may not hold the same significance for everyone, for us, it is a cryptocurrency that facilitates borderless transactions without the need for a third party. Hence, those with a centralized mindset may not appreciate Bitcoin. It's best to disregard them and move forward. I'm not bothered by such FUD in the least.

You'd have to pay him a million dollars to talk to him. The man values his time, he only talks to himself, his servants and Charlie for free. If you have something to say to him, you have to pay, and he still won't listen to you, just let you do the talking and pretend he can hear you without his hearing aid


He supports fiat because most of his money is fiat. He has stocks, properties and fiat money. Talking to him is like going to a guy who ate meat all his life and try to explain him that he's being cruel to animals and should switch to soy meat, or trying to convert a Muslim into Christianity, or the other way round.

if I could talk face to face with uncle buffet then I would explain in more detail to him about the strong reasons why I fully support bitcoin and never thought bitcoin was a tool for me to get rich quickly (from his words that I caught, Warren thought everyone who was in bitcoin just wanted to get rich quick so he thought bitcoin was not much different from gambling tokens).

he supports fiat and fiat is something that can be printed at any time according to political interests, while bitcoin has a limited amount and no one can interfere with it (I wonder what his response was when he heard these words).

Warren Buffet is a wealthy man who is old and one characteristic that people who are old and wealthy have is that they are not easy to convince with new ideas, so forgive Warren if he still has no trust in bitcoins. He is old and wealthy and may not live long enough to regret his decision unlike the people who are young, do not have money at all and will follow him in this his belief, choosing to ignore this opportunity to invest and make some good life changing gains in a couple of years.

I will tell people to always learn to form their opinions and not just adopt the opinion of others even if you feel they are at a position better than you.

I know that your comment is not intended for me - but you have not proven anything new with this topic, because WB has been saying the same things for ten years. In my opinion, the bigger problem is that you emphasize news like this as important, but in fact there is nothing new or important for Bitcoin.


The so-called journalists always provoke WB with questions like this because they want click-bait headlines, and it's obvious that they succeed every time. You're shaking your head for no reason, his opinion has no bearing on the direction Bitcoin is going. I would like to conclude the story with an old saying: "when you have such "good friends", you don't need enemies".

Warren Buffet's sentiment toward Bitcoin will always be rehashed by the media. People know his stances on the subject, yet they will always be still asking questions about it to strike up some controversy, regardless of how the market performs. There is literally zero contribution that he offer and gave toward the Bitcoin ecosystem, the problem that arises is those people who trust or believe himself, people's stance toward Bitcoin might be affected because of Buffet's thoughts.

On one hand, it will be just another Bitcoin Obituaries, and in the other hand, people or any entity who favour him would willingly resonate and spread his sentiment.

Let him say whatever he wants to, we shouldn't really care much about what he or anyone in the fiat industry says about Bitcoin, he is not the one who makes the rules around here, we don't follow what he says and the world has proved that by not panicking or starting and FUD within the crypto community, no price drops, no much reactions, everything is normal.

Also, he is not the only one nor it's his first time blasting on something, he even says gold and real estate are bad investments, but who would believe what he says? Gold and real estate are one of the safest investment options mankind can ever have.

From rat poison squared to a gambling token i'd say is an upgrade coming from Buffet. Sadly he won't live long enough to take back these words once he can fully be convinced of its intrinsic value that we all know to be true. Buffet is dead to BTC already, who needs him! He is old money with his massive fortune being built on stocks and dividends and of course his real estate empire. BTC and crypto is the future and you know what they say: you can't teach and old dog new tricks!!

Even if he calls bitcoin garbage I never care. As long as trash but bring me wealth, the life that many people dream of, garbage or gold, doesn't make much difference. Why are we so concerned with what this man has to say? While our job is to make a profit to take care of our family and ourselves, as long as we make money from bitcoin, it doesn't matter what bitcoin is called.

Not just Warren, but there are a lot of personalities that totally go against bitcoin. But when they open their mouth, the price suddenly go on the uptick. So yeah, we understand where he is coming from because he is as traditional as anyone, but the thing is, he should at least open his eyes and see that there is something good about bitcoin as far as investments goes.

I am sorry if this is annoying, however, it was news that I wanted to share to show the hypocrisy of a person that many people consider a role model. Read the argument about the news.

In some occasions he might be a good person but to open his mouth again when bitcoin has begun pumping is very head shaking. He is like a friend who tells his other friends not to do something because he does not want to do it.

Warren Buffet is stubborn in staying with his belief.  Bitcoin had been performing such feats for more than a decade now and still Warren Buffet can't move on and still stick to his own stand.  Well at least he is consistent, consistent with being shame by the Bitcoin market, lol.

I have long put Warren Buffet's beliefs and statements about Bitcoin on ignore.  He just keeps on clinging to his failed belief about Bitcoin being a bubble. 


It's funny how I think you love stupid things  .  Well, about Warren Buffet saying BTC is a gambling token, there is some truth in it because Bitcoin is often used in the gambling industry together with fiat currency.

He's 100% right. Bitcoin is easy money! Easy to use money that anyone can own, hold and use without being told what to do by banksters.
He's like that guy that wanted his own island so he swam and swam until he found one and is now sitting there all day making waves so that other swimmers can't reach his island.

I remember him saying that if someone offered him bitcoin for a few bucks he still wouldn't buy it, which is pure stupidity because why wouldn't you buy something you can sell for 100 times more in an instant? This is his attitude in a nutshell. He's a stubborn old donkey who thinks he has all the investment knowledge in the world and can't be wrong, but he's been wrong about bitcoin for many years now.

I love when people compare Bitcoin to gambling because its so stupid lol.


In gambling, the longer you play the more likely you are to lose money because the odds are always in favor of the house. Gambling is all about getting lucky quickly and getting out (or I guess the other strategy I guess is lose a lot but hope that you get lucky enough later on to win back everything you lost and then some).


While Bitcoin, of course, is the exact opposite. If you play short term you could lose or make money, as in any investment, because it can go down or up short term. But long term you always win with Bitcoin and the longer you go the more money you make.


In comparing Bitcoin to a roulette wheel, Buffett apparently thinks the more time you play the roulette wheel the more money you win lol.

It's sad when you have people who are considered financial geniuses in their own field of finance, continually publicly show off how narrow their abilities are when they repeatedly make a fool of themselves in a different area of finance like Bitcoin.




Imagine if every time Buffett said something bad about Bitcoin, instead of saying it he said nothing and decided to invest $10 million into Bitcoin. He'd have made lots of money instead of making no money off Bitcoin and making himself sound foolish. It is continually amazing how after years of talking trash about Bitcoin, years of realizing he (and others like him) has missed out on massive gains in Bitcoin, instead of changing his behavior and doing a better job at, well his job since his job is to make money, he instead just keeps doing the same thing that doesn't improve his money making at all.

BTC was not created as bulletproof in a time crisis, if there is a serious crisis nobody would worry about BTC in their wallets or the fiat in their bank, they would worry about saving their life first and being okay. If you are trapped somewhere or left to die, how does BTC come to your aid, you are exaggerating the purpose why BTC was created, which is to be a censorship resistant and permissionless currency that does not work the way fiat does, and therefore is a second choice option to it.
You are correct that BTC is not printed out of thin air, but it does not mean you have to work hard for it, you can buy it easily with your fiat currency or other cryptocurrencies, and you can earn it if you have a skill or you have a service you can give for it.
People donate BTC to others, and they also give it out to help people. BTC is a currency and you don't just see people give out their fiat currencies to people just like that, there has to be a reason for it, that's the same way with BTC.

People who believe in Bitcoin will take it seriously and support it, while those who don't will cause FUD. Warren's criticism for Bitcoin did not start today, but what has his criticism really done to it? Does it make Bitcoin less value?No! His critiques did not change the minds of people who have already invested in bitcoin. Even quite a number of people still want to invest in bitcoin but don't have the funds yet.

I am adamant to Warren Buffett's criticism about Bitcoin, while he believes in his stock investment, I also believe in my Bitcoin investment. After his criticism about Bitcoin, he has also said that more U.S. banks may fail, and that's what I think may also happen.

Well, it seems they are always envious, sad and grumpy when the market is bullish and ordinary people profiting from their hard earned investments.
Atleast Bitcoin is better than doling out free money to needy in the name of social welfare which is costing country like US alot of money probably in trillions of dollars. Why not teach people how to catch fish instead of giving them fish whenever they need it, which does encourage laziness.

And it's important to also note that BitCoin is hard money... It's not printed out of thin air like several countries do with their currencies. It's hard money earned via hardwork like you see around this forum and cryptospace people working hard to earn bitcoins. You hardly see people given Bitcoin for free. They work hard to earn it by solving problems for others in crypto community, via investment etc

And by the way, it's not very risky investment aka gambling. I have never heard of anyone losing all or most of their money permanently due to price fluctuations. It does not go down permanently, which the envious ones kind of wish it does. It goes up, down, then up...

In conclusion, Bitcoin is one of most revolutionary and useful technology in the world. Part of its most important purposes is to help humanity in times of uncertainty and during local/global crisis. That is the main reason it was built, and those who will benefit from it are mostly the common people who will likely be trapped, abandoned or left to die, or even encouraged/made to destroy each other for the "good" of the world or the system .

He's been saying all things about BTC since. During his time, he is very early in investing in some stocks but a decade ago, he missed his biggest opportunity in BTC not minding it. He had enjoyed so much of his wealth that he forgot to look at what was coming so right now he spends time bad-mouthing BTC. An old man who used to have influence but is now all gone in the new world.

However Warren Buffett chooses to get rich is his own business, and it does not make what he says correct, BTC is not a get rich quick scheme and that is why the percentage of the world that has adopted BTC is still a bit low, if BTC was a get rich quick scheme, the percentage of the global population that holds it would be much higher than what it is now. People know that if they are to adopt BTC, it is either because it is a censorship resistant currency that they would like to use, or they want to hold it for the long term for profit, but not for short term profit, or quick wealth or profit.
Like Satoshi would say:

Why such hopes at all, do you need the positive opinion of a man whose whole life revolves around making a profit and who helped build a system in which the rich get richer and the poor remain without what little they have? Admiring a man just because he is rich is something that for me is total stupidity...

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Time is not a factor at all, because if WB were to be alive in 100 years, I believe he would think the same about Bitcoin as he does today. The problem is not how long Bitcoin has existed, but that "they" don't want some new "money" to replace the instrument that keeps people on a tight leash.

How long must the network keep running, how many more blocks must it produce, and how much more FIAT must Bitcoin absorb before the doubters are convinced that it's actually part of the evolution of money? HOW LONG?

One thing I discover is that most old people, most especially the rich and influential ones, always feel threatened by new technological innovations, I also do not blame Warren buffet, he is yet to fully understand bitcoin, and for his age, he has nothing to lose if he doesn't buy a single bitcoin till he dies, he has made his money, more than enough money, So he possibly do not see any need why he should be investing in bitcoin, and since bitcoin is not important to him, he thinks the best thing to do is to fud it, we understand how the game works..

All the same, he's fuds and negative statements towards bitcoin have not stopped bitcoin from growing, it will not stop it from adoption when the time is right, the fact is that.. Every body must not like bitcoin before it gets adopted in to the financial system.

I like Buffett, he is consistent in his views, and does not change them no matter what happens, but he is an old school person and it can be difficult for him to hire new technologies, although has to admit that his intuition and ability to analyze are very good. Perhaps I would even agree with him if bitcoin was a few years old and it all didn’t look so confident at the very beginning, but now with every year we see more and more skeptics fall silent and understand its true value. I really hope that Buffett can see a world in which bitcoin becomes a means of payment in every corner of the world.

I have nothing against the OP even though we disagree on some things, but why even mention a man who has been saying the same thing for 10 years - especially if we know his position on Bitcoin? I'm sure his opinion won't change, and frankly it shouldn't matter to anyone who understands Bitcoin.

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But that's not exactly news we'll see in the media, because the Oracle of Omaha is always portrayed as someone who only profits and never loses. On the other hand, let's just remember what the media wrote about Saylor and his company when the price of BTC was collapsing towards $15k.

I concluded that Bitcoin is always a problem for Buffett and others like him, not because he considers it "war poison" or "mirage", but because he knows very well that the money that usually ended up in his pockets now ends up somewhere else. It would have been much more correct for him to have been neutral on this issue, but he knows very well how much influence his words have and tries to use that to his advantage.

Okay, so Uncle Warren's a little peeved about Bitcoin, but honestly, he's got a point. Yeah, you can totally rake in some serious dough by trading in the cryptoverse, but let's not kid ourselves - cryptocurrencies aren't really worth anything. It's just a big guessing game, where people are betting on what some numbers on a screen might be worth in the future.

This isn't just a problem with Bitcoin either. Plenty of other digital currencies out there have no practical use whatsoever. That's why it's smarter to invest in old-school finance with futures and options trading. These financial instruments are linked to actual assets, which means their prices are rooted in the economic world. Instead of taking a risk on something that may be worth zilch, it's better to stick with traditional finance where the rules are clear and the danger is more manageable.

Not really, his road to becoming a billionaire was too difficult, and it took him a lifetime to get there. But with the advent of bitcoin, his way of getting rich is no longer correct. Everyone can get rich quickly with bitcoin, and he doesn't like it. When they just need to invest in bitcoin to get rich easily while he has to work hard all his life. I think that's why he's always been against bitcoin.

I think Warren is in between loving and hating Bitcoin, this man has never been hateful towards Bitcoin but he doubts if Bitcoin will work or not, to me he lacks the understanding of what Bitcoin is all about and I don't blame him.

This is a man that comes from a different era, he made all his money through Fiat before Bitcoin existed, so yes that's enough for him to doubt Bitcoin, he is old school and his way of thinking will be different.

You can't see people who aren't into Bitcoin investment and making money from Bitcoin talking about something else, Warren Buffet made his money from stock, properties, and companies investments, this is what he is definitely going to be talking about, for the rest of his life, nothing else will matter to him.

It's true that many people like to get into the get rich quick schemes but he's definitely pointing and barking at the wrong tree. Well, let's just give him what he wants as he's already old and I also acknowledge him as an investment genius.

But it's never going to change that he'll say something good about bitcoin because he's a guy that's into traditional investments and there's nothing wrong with that.

However, he should stop talking nonsense about bitcoin.

"Nobody wants to get rich slowly"


This is the answer Warren Buffett gave to Jeff Bezos when he asked him: if your style of investing is so simple why not everyone copying you?

Buffett likes it the hard way and he seems to be right so far.

The study of trading here in cryptocurrency is not easy to understand, and the application of technical analysis is also not so easy to understand. It takes time, time, and dedication for you to do well as an individual trader in this industry.

I've been studying it for several years now because I still don't understand a lot of it, but despite what I'm doing, somehow I'm still experiencing profit weekly in trading.

He's a traditional investor so we cannot expect him to like bitcoin. He might think that this is so risky for him that's why he can't afford to participate on any investment related with bitcoin.

We know he is a well known risk taker famous investor but maybe he didn't find himself investing on this thing because he can't or nobody can control its volatility.

Its funny isnt it, that the well known critics of Bitcoin crawl out of the woodwork as soon as
the Bitcoin market does something interesting.

I heard a quick 20 second report on the radio about Bitcoin hitting a 10 month high of
$30,000 in a "currencies and markets" slot but the reporter had to balance that news stating
how volatile it was and gave the example of the ATH of $69,000 crashing back to $16,000.

They always have to spin some negativity into their talknof Bitcoin.

Main thing is that the market is not as sensitive to that anymore.

Haha. He has been angry at bitcoin ever since bitcoin market capitalization overtook his company's market capitalization. But all kidding aside he has always been saying nonsense about bitcoin, my favorite is calling bitcoin "rat poison" which is incidentally the most accurate description of bitcoin anybody could give. Rat poison kills rats that are the corrupt ancients in the old and outdated financial system.

BTW his company has been having a hard time ever since April 2022 and has been in red almost entire last year (25% dumped). That's despite all the billions they pump into it

On this, I beg to differ with Warren Buffet. Personally, I believe he is denying bitcoin's potential as a store of value, an inflation hedge, and most importantly, its decentralized character. I also believe that he hasn't actually read anything about bitcoin, beginning with the Bitcoin White Paper. Because if he had, he would be aware that bitcoin enables quick and efficient transactions in a secure blockchain network without the need for any middlemen, and he would have actually included it as one of his asset holdings. He is utterly ignorant of bitcoin, as evidenced by everything he says about it.

Who the fuck cares what Warren Buffet has to say about Bitcoin anyway? And its not like he is saying this for the first time so that we should be surprised.

"Small minnows like you and me" I don't think that's true though.

I've always been able to trade in forex and others, using even smaller balances with smaller fees. I mean, back in those days you even had small sized apps and very lite trading platforms. That's where I learnt all my trading, before I moved to crypto (and crypto actually made me give up).

Forex with 100x leverage is just as good as crypto, I don't see a difference.

I kinda agree with Warren Buffet on this one. Many people have the false perception of Bitcoin as a magical investment tool, that will bring them easy money and will make them rich quick. The problem here is the people's perception of Bitcoin, not Bitcoin.
The big difference between tradfi and the cryptocurrency markets is that tradfi is way more regulated(which doesn't stop some scams to appear here and there and it doesn't stop the "too big to fail" banks to manipulate the prices sometimes).
I really doubt about Buffet knowing that there are actual gambling tokens(issued by crypto casinos) on the crypto market.

It's true that trading in the traditional financial space (tradfi) and trading in the cryptocurrency space can be similar in many ways. However, one key difference is that in the crypto space, smaller investors like individuals can trade using smaller position sizes and potentially still make significant profits due to the higher volatility of cryptocurrencies.

Regarding the argument of gambling, it's worth noting that traditional financial instruments like futures and options trading also involve a degree of risk and speculation, and can be seen as a form of gambling in some respects.

Overall, while there are similarities and differences between trading in tradfi and trading in the cryptocurrency space, it's important for individuals to understand the risks and potential rewards of any investment or trading activity, and to make informed decisions based on their own financial goals and risk tolerance.

What do you expect from the silent generation? they tend to be skeptical and conservative when it comes to finances and investments. Therefore, it is not surprising that Warren Buffet often discredits Bitcoin and calls this a fraud.

But fortunately nowadays people are smarter and don't fall for such words, and therefore people ignore his words and think that it's like old man's nonsense.

Charlie Munger and Warren Buffett have been critical of Bitcoin in the past, with Munger once calling it "turds" and Buffett stating that it has no intrinsic value.

Only if uncle warren decided to invest half of his money when he first decided to talk shit about Bitcoin, would he have been the wealthiest person on this planet.
He and the Munger guy, are both strictly against Bitcoin and it makes sense because their stocks do not get any pump as money is divided in multiple markets however it was just the stock market previously.

Really happy that Microstrategy is back in profits with Bitcoin above $28k which is Saylor's buying average. He is the only reason I think why big funds started buying crypto.
One thing is also to note that Ethereum took the majority of shares of Bitcoin and if there wasn't a second crypto, Bitcoin today will be worth $41.8k per BTC

That would be above $100k at the ATH of bitcoin. Crazy shit isn't it.

I understand what Warren's saying, but it's not all about get-rich-quick schemes. Some of us just believe in the technology and the potential it has for changing the world.

There are stocks go down or up that much in one day. Why isn't there a problem when a stock does that? Many people treat the stock markets like a casino too. To them, Warren is just a good gambler. The moral of the story here is, people shouldn't listen to this old boomer that much. He had his time, he made his fortune and now his days are over. He is what? 90+ years old? His expiration date is overdue.

He's talking about bitcoin being a gambling token when it's literally a gamble to do traditional trading, I mean there's really no straightforward strategy when it comes to traditional trading too so I don't see any difference between those two except probably for the volatility of bitcoin which isn't that scary the more you get used to it, my conspiracy theory is that Warren is secretly beting against bitcoin so he's slamming it when things don't go his way.

I think Warren Buffett's criticism of Bitcoin as a get-rich-quick scheme is not unfounded and that the value of Bitcoin fluctuates greatly, causing sudden gains and losses. However, it is important to remember that Bitcoin is a relatively new asset class, and its value is determined by market demand.

In the trading world, there may not be a significant difference between traditional finance and the crypto space. The difference lies in the level of volatility, which is much higher in cryptocurrencies. This means that smaller traders can trade with smaller position sizes and still be profitable. Futures and options trading in traditional finance also has an element of gambling, making it similar to the crypto space in this respect.

Honestly, I don't believe what billionaires or banks are saying about bitcoin. They are business people, traders always looking for profits anywhere, so their rejection of bitcoin is the most unbelievable thing. What they're doing is simply because they don't want to share their quick wealth with anyone, they don't want too many rich people like them. I always suspect, on the one hand, they always propagate negative about bitcoin, on the other hand, they silently accumulate bitcoin if their Fuds create panic among other investors.

No, he is not. I've seen him in an interview talking about it and he didn't seem angry at all, in fact he usually speaks quite affably. It doesn't change his mood for Bitcoin to go up and down in price.

I don't know why you give it so much importance. He is from another era and at this point in his life he is not going to change his mind. He became a billionaire in a fiat world buying companies that produce goods and services, he doesn't need bitcoin for anything. He missed most of the rise of tech and only very late bought Apple.

His are companies that produce goods and services by beating inflation, let's see if we understand, it's not just that he doesn't like Bitcoin.

Warren Buffett: Why Gold is a Bad Investment

Warren Buffett: Why Real Estate is a Lousy Investment

35% in 30 days is still realistic, there are many stock or gold the price increase higher than 35% in 30 days. If he consider Bitcoin as a gambling token because of such return, any investment should be said as a gambling token too.

Bitcoin price never drop to $0 so I don't consider Bitcoin as a gambling token. I can say an asset or commodities can be said as a gambling token if the price can drop to $0 or get delisted in every exchanges.

Lol! The best part is that the market didn't respond to his nonsense statement at all. It's still in the green zone. I remember a couple of years back when Jemie Dimon and this old uncle criticized Bitcoin in a TV interview, the market did respond negatively and the price fell by more than 20% in a single evening. That's not the case anymore so the crypto market is immune from such criticisms. Uncle can keep on saying whatever he wants or whatever makes him feel happy.

It's never a good thing for big corporates or governments when the power of money is available to the commoners like you and me. They often show their frustration and that's one of such cases.

Uncle Warren is angry again.

What would be the difference between trading in tradfi and trading in the cryptospace? Nothing except in the cryptospace, small minnows similar to you and me can trade using smaller position sizes and still profit handsomely because the volatility is much higher. On the argument of gambling, I reckon tradfi with futures and options trading is the biggest casino in the world.



Billionaire investor Warren Buffett doubled down on his Bitcoin criticism today, once again suggesting that the asset is nothing more than a get-rich-quick scheme.

In a Wednesday interview with CNBC, the Berkshire Hathaway boss said he didn’t blame people for wanting to get involved in what looks like “easy money.”

And today he continued his critique. “Something like Bitcoin, it’s a gambling token,” he said on CNBC’s Squawk Box. “The urge to participate in something where it looks like easy money is a human instinct which has been unleashed and has always been there.”

He continued: “It’s so human. People love the idea of getting rich quick—I don’t blame them,” before adding that Bitcoin doesn’t have any value but people still want to “play the roulette wheel” by investing in it.

Read in full https://decrypt.co/126115/warren-buffett-bitcoin-gambling-token