Updated on:12/05/2025 05:18 PM 
Warren Buffett, Chairman of Berkshire Hathaway, recently reaffirmed his long-standing skepticism toward Bitcoin during an interview with CNBC, stating he lacks the ability to reverse the cryptocurrency's growing presence in global markets.
The renowned investor drew parallels between Bitcoin and casino games, describing the digital asset as a speculative instrument devoid of fundamental value. Despite Bitcoin's recent performance, which saw it surpass the $30,000 mark to achieve a 10-month high, Buffett maintains his critical stance.
While acknowledging the universal appeal of quick wealth accumulation, Buffett characterized Bitcoin's attraction as a psychological trap similar to gambling. The billionaire shared a personal anecdote about his brief foray into sports betting, where he earned $550 from a football wager.
"The temptation to strike it big is deeply human," Buffett explained, noting how gambling enthusiasts tend to amplify their successes while minimizing their losses—a phenomenon he believes mirrors certain cryptocurrency investment behaviors.
Throughout his career, Buffett has championed patient wealth-building strategies, consistently advocating for long-term value creation over speculative gains.
Buffett's 2018 characterization of Bitcoin as "rat poison squared" remains a defining moment in cryptocurrency discourse. During that Berkshire Hathaway shareholders meeting, the legendary investor predicted the digital currency sector would ultimately collapse.
Notable figures in the financial world have adjusted their positions on digital assets over time. For instance, billionaire Ray Dalio has expressed newfound admiration for Bitcoin's potential, highlighting its role as a store of value in inflationary environments.
According to William Mougayer, author of "The Business Blockchain," Buffett's persistent criticism stems from a generational perspective gap. Mougayer suggests the seasoned investor focuses exclusively on Bitcoin's speculative aspects while overlooking its underlying technological innovations and practical applications.
As blockchain technology continues to evolve and gain mainstream adoption, the debate between traditional financial perspectives and emerging cryptocurrency paradigms remains a focal point for investors worldwide.
