Bitcoin got another bashing from the Sage of Omaha.
Warren Buffett told reporters at Berkshire Hathawayâs annual meeting in Omaha, Nebraska, that he still couldnât support bitcoin.
âItâs a gambling device ⦠thereâs been a lot of frauds connected with it. Thereâs been disappearances, so thereâs a lot lost on it. Bitcoin hasnât produced anything,â he said. âIt doesnât do anything. It just sits there. Itâs like a seashell or something, and that is not an investment to me.â
Buffett also pointed to a button on his jacket and said that he could call it a token and charge $1,000 for it, wrote CNBC.
âWhat Iâll have here is a little token ⦠Iâll offer it to you for $1,000, and Iâll see if I can get the price up to $2,000 by the end of the day. ⦠But the button has one use and itâs a very limited use,â he said.
Buffett has previously stated that bitcoin is a âdelusionâ but that blockchain is ingenious. Last year he called it ârat poison squaredâ and said it was a nonproductive asset.
When asked at this monthâs meeting if heâd ever be involved in the technology, he replied: âI wouldnât be the person to be a big leader in blockchain.â
Warren Buffett image via Shutterstock