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Billionaire investor Warren Buffett is skeptical about investing in cryptocurrency. To him, buying Bitcoins (EXANTE: Bitcoin) is not an investment.

“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you,” Buffett said in an interview with Yahoo Finance.

“ Now, 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 added.

Buffed further said that buying Bitcoin means speculating, but added that "nothing wrong with it."

“If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing.”

Warren Buffett is a longtime Bitcoin skeptic. On different occasions the billionaire has described Bitcoin as “mirage, “fraud,” and “bubble.”

By Siranush Ghazanchyan

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