Berkshire Hathaway CEO Warren Buffett defined Bitcoin (BTC) as a delusion and said that it attracts charlatans, according to an interview with CNBC published on Feb. 25.

Cafe, a known Bitcoin critic, has previously said that buying Bitcoin as an investment is a gamble, and that no one know exactly what the elevation cryptocurrency is.

When asked if he changed his mind concerning Bitcoin in the CNBC interview, Buffett answered saying that he did not, and that "it is a delusion, basically." During the conversation, he besides pointed out that Bitcoin has no unique value at all, since "blockchain does not depend on Bitcoin" and it does not produce annihilation.

Buffet further explained:

"You tin can stare at information technology all day, and no little Bitcoins come up out or anything like that. It'southward a delusion, basically."

Nevertheless, Buffett did add together: "who knows where nosotros will be next year," followed past comments on his empathy for people who thought investing in Bitcoin was going to modify their lives.

As Cointelegraph reported in May of last yr, Buffett also said at the almanac meeting of his company, Berkshire Hathaway, that cryptocurrencies volition come to a bad catastrophe, claiming infamously that Bitcoin is "probably rat poison squared."

Berkshire Hathaway vice chairman Charlie Munger has also weighed in on Bitcoin, commenting on Buffett'south criticism to crypto with his own negative opinion of the crypto market:

"Someone else is trading turds and y'all decide I can't be left out."

In October 2022, Berkshire Hathaway invested effectually $600 meg in two fintech payment firms focused on emerging markets.

Last yr, a cocky-proclaimed disciple of both Buffett and Munger, Chamath Palihapitiya, noted he believed that the two skeptics were wrong almost the leading crypto, stating that "engineering is not in [Cafe's] circle of competence."