Basically, Buffett’s take on Bitcoin and any other currency is that since it doesn’t have any intrinsic value, any value it does have stems from speculation and is essentially an abstract quantity. And he’s had the same basic take going back to at least 2014, when he expressed similar views on the idea of cyrptocurrency in an interview with CNBC. Going hand-in-hand with his views on Bitcoin is his prediction that the crytocurrency will eventually bring a bad end to most of its investors, or as he would more likely refer to them, speculators (or even gamblers). Other financial experts like Jim Cramer, Kevin O’Leary, and Tony Robbins have also gone on the record describing cryptocurrencies in a similar way. People with a sizable stake in cryptocurrencies would argue that Buffett doesn’t really understand the systems behind them, which he has more or less admitted. But for his own investment purposes, don’t plan to see Buffett spending any of his money on bitcoins any time soon.
