Warren Buffett: bitcoin is anything, but not an investment

An entrepreneur whose fortune is estimated at $ 100 billion, said that users who buy bitcoin simply hope that "the next guy will pay more".

Buying bitcoin is speculation and gambling, not an investment, says entrepreneur Warren Buffett, whose fortune is estimated at $ 100 billion. He said this in an interview with Yahoo Finance on the eve of the annual shareholders meeting of Berkshire Hathaway's, which will be held in Omaha, USA.

The specialist noted that "there are two types of items that people buy, and think they are investing." One of them is the real investment, the other is not. According to Buffett, bitcoin belongs to the second type.

"If you buy something like a farm, a dwelling house or a share in business ... you can do it on a private basis ... and it's a perfectly acceptable investment. You look at the investment itself, which will bring you income. Now, if you buy something like bitcoin or some kind of cryptocurrency, you really do not have anything that can produce anything. You just hope that the next guy will pay more, "- said the entrepreneur.

The specialist added that he sees nothing wrong with buying digital money. In his opinion, it is important to distinguish investment from gambling.

"You do not invest when you do this. You are speculating. There is nothing wrong. If you want to play gambling, someone else will come and pay more money tomorrow, this is one of the games. This is not an investment, "added Warren Buffett.

Earlier he repeatedly stated that bitcoin is a financial bubble. The investor does not work with the coin, because he does not understand this sphere. At the same time, he is sure that the cryptocurrency "is waiting for a bad end."

Posted from my blog with SteemPress : https://coinatory.com/2018/05/02/warren-buffett-bitcoin-is-anything-but-not-an-investment/