Warren Buffett's aversion to bitcoin just escalated.
"It's a gambling device... there's been a lot of frauds connected with it. There's been disappearances, so there's a lot lost on it. Bitcoin hasn't produced anything," Buffett says.
Buffett had previously called bitcoin "rat poison squared," and Berkshire's vice chairman Charlie Munger said trading in cryptocurrencies is "just dementia." However, the Oracle of Omaha acknowledged the blockchain technology that bitcoin is built on held some promise.'s aversion to bitcoin just escalated.
"It's a gambling device... there's been a lot of frauds connected with it. There's been disappearances, so there's a lot lost on it. Bitcoin hasn't produced anything," Buffett told a group of reporters ahead of"It doesn't do anything. It just sits there. It's like a seashell or something, and that is not an investment to me," he added."I'll tear off a button here. What I'll have here is a little token...
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