Abstract : Buffett compared gamblers he witnessed in his trip of Las Vegas to Bitcoin investors.
May 6 (ChainDD) In Berkshire Hathaway’s annual shareholder meeting on May 5, the legendary investor as well as the company’s chairman Warren Buffett compared gamblers he witnessed in his trip of Las Vegas to Bitcoin investors.
Buffett said he made his honeymoon in Las Vegas in 1952. He looked around and saw all of these well-dressed people who came from thousands of miles away even lack of transportation. They “came to do something that every damn one of them knew was mathematically dumb”. “We gonna make a lot of money,” he joked to his wife at that time. He said buying Bitcoin is just like staking money on things with the number of 0 or 00. “I have to say Bitcoin is rejuvenated that feeling in that.”
According to ChainDD’s previous news, also during the meeting, Buffet called Bitcoin a “gambling device” that doesn’t produce anything meaningful. He said the cryptocurrency has very limited use which all involves with fraudulent activities. He even explained that he can tear off a button as a token to offer for a $1000 and then see if it can appreciate with a price $2000 by the end of that day.