Financier Warren Buffett has been critical of bitcoin since 2017, the year the cryptocurrency first made a loud statement.
In February 2020, the CEO of Berkshire Hathaway said that BTC and other virtual currencies have no collateral. Buffett stressed that he would never have such assets in his portfolio.
The billionaire made the same statement recently on CNBC. He once again noted bitcoin’s lack of real collateral.
Buffett confirmed that he would not buy the cryptocurrency, despite the fact that its value has increased by more than 80% this year alone.
The financier called BTC a gamble.
People investing in this instrument should be aware of all the potential risks and be prepared to lose money.
Buffett’s deputy Charlie Munger is also critical of cryptocurrency. In early 2023, he called on the U.S. government to ban bitcoin altogether, following the example of China, which obliged companies and banks to stop operations with digital currencies.