Warren Buffett on Bitcoin (available on Coinbase) (BTC) Now

Warren Buffett has never shown himself to be a fan of Bitcoin (available on Coinbase) and other cryptocurrencies. In an interview with Yahoo Finance, Buffett still isn’t jumping on the crypto train.

Buffett told Yahoo Finance that he doesn’t see Bitcoin (available on Coinbase) as an investment. Instead, he believes it’s a gamble. He continued to explain that there isn’t anything wrong with that, per say, but that it’s important not to treat Bitcoin (available on Coinbase) and other cryptocurrencies as anything more than a game. You can’t expect it to behave like an investment, because it isn’t an investment.

Buffett explained:

“If you buy somETHing like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you. Now, if you buy somETHing like Bitcoin (available on Coinbase) or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.”

He continued to explain that “You aren’t investing when you do that. You’re speculating. There’s nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing.”

Buffett’s stance on Bitcoin (available on Coinbase) shouldn’t come as a huge surprise given his previous thoughts on the coin.