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Warren Buffett dismisses bitcoin, says buying it not investing

Warren Buffett dismisses bitcoin, says buying it not investing

Warren Buffett dismisses bitcoin, says buying it not investing
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By CNBC-TV18 May 7, 2018 10:06:24 AM IST (Updated)

Buying bitcoin is not investing, said Warren Buffett, CEO of Berkshire Hathaway, as reported by Business Insider.

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According to the report in the American business news website, Buffett in an interview with Yahoo Finance said, “There’s two kinds of items that people buy and think they’re investing,” he said. “One really is investing and the other isn’t.”
He suggested that buying a farm, an apartment house would be perfectly satisfactory investment. “If you buy something like Bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more,” he said.
This isn’t the first time that Buffett has expressed his disagreement on the growing cryptocurrency market. Earlier, he made an argument dismissing the digital currencies in 2014 during an interview with CNBC.
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