Berkshire Hathaway Chairman and CEO Warren Buffett took another swipe at bitcoin on Monday as he went into further detail about why he would not invest in the cryptocurrency.
“The asset itself is creating nothing,” Buffett said on CNBC’s ” Squawk Box ” from Omaha, following Berkshire’s annual shareholder meeting. “When you’re buying nonproductive assets, all your counting on is the next person is going to pay you more because they’re even more excited about another next person coming along.”
On Saturday, Buffett said bitcoin is ” probably rat poison squared ,” while Vice Chairman Charlie Munger said during the annual meeting that trading in cryptocurrencies is “just dementia.”
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