Warren Buffett: Bitcoin is 'like a seashell or something'

Warren Buffett is worth $90 billion and you don't get that way by jumping into every new fad, right? Well, during the annualk Berkshire Hathaway meeting in Omaha, he had some very wise words about Bitcoin.

Buffett talked with reporters where he called Bitcoin "a gambling device" that "just sits there" and "hasn't produced anything". He added, weirdly, that Bitcoin is "like a seashell or something". But the weird didn't stop there for Buffett, who compared Bitcoin to the buttons on his jacket. Yes, I wish I was joking, Buffett compared the price of Bitcoin to the buttons on his jacket.

He said: "I'll tear off a button here. What I'll have here is a little token... I'll offer it to you for $1000, and I'll see if I can get the price up to $2000 by the end of the day... But the button has one use and it's a very limited use".

His hate for Bitcoin is strong but he knows that the blockchain is something where more effort is put (at least for Buffett) where he said that the blockchain technology that Bitcoin is built on is "very big".