Warren Buffett says people invest in Bitcoin because they want become rich in a short time

Warren Buffett once again slammed crypto Investors and said that Bitcoin is a gambling asset. 

Warren Buffett is an American business magnate, investor, and philanthropist. The Buffet is a legend of stock asset investors, thanks to his ability to analyze the best companies. In the past several years, Buffet passed many negative comments against Bitcoin & cryptocurrencies. 

On 12 April 2023, Berkshire Hathaway Chairman and CEO Warren Buffett appeared in an interview with CNBC’s Squawk Box. There he again slammed the crypto sector with his crypto-critic words. 

Buffet said that Crypto assets are more similar to gambling and but that doesn’t stop people from wanting to play the roulette wheel.

Further Berkshire Hathaway’s CEO said that every person in this world wants to make money in a very short period, thanks to the basic nature of humans. 

“The urge to participate in something where it looks like easy money is a human instinct which has been unleashed…(…)…People love the idea of getting rich quick and I don’t blame them … It’s so human, and once unleashed you can’t put it back in the bottle,” Buffet said.

Earlier in April 2022, Buffet said that he doesn’t know about the future price of Bitcoin but he is sure that he will not buy Bitcoin even at the $25/BTC rate. 

Earlier this Berkshire Hathaway vice chairman Charlie Munger suggested a federal ban on cryptocurrencies, during an interview with Wall Street Journal (WSJ). 

Recently a news media reported that Berkshire Hathaway has fund allocation in stock assets of those companies, which have significant exposure to Bitcoin investment.

The report noted that Buffet held nearly 420 Bitcoin, on behalf of the stock investment.

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