Warren Buffett, Executive Chairman of Berkshire Hathaway (NYSE: BRK), warned investors about the rise of speculative activity, especially in the crypto market.
Buffett said that investors have never had a gambling problem more than now, according to a CNBC interview recorded at the 2026 annual meeting of Berkshire Hathaway. A 95-year-old American businessman compared today’s markets to a church with an attached casino when asked about his thoughts on today’s high prices.
“If you’re buying one-day options, or selling them, I mean it’s not trading, it’s not speculating, it’s gambling… So we’ve never had more gamblers,” Buffett. he said.
At Berkshire Hathaway’s 2018 conference, Buffett called Bitcoin ‘rat poison’ and has been dismissive of it. Given the volatility of crypto, Buffett urges investor caution.
Buffett acknowledges the expertise of young investors
While Buffett has cautioned investors against gambling, he acknowledged that small investors have a knack for technology. He said that he had not learned about new industries for several years.
He said: “I have not learned new industries for several years.
Berkshire Hathaway has remained cautious in investing in emerging industries, particularly related to Web3. The company’s cash pile swelled to $397 billion under CEO Greg Abel, who took the helm in January 2026. Berkshire has no exception in the rules of crypto currency vehicles such as Bitcoin (BTC) exchange-traded funds (ETFs).
However, Buffett acknowledged that the best opportunities have been found where the big picture creates fear. This idea may be appropriate because the crypto market has fallen sharply in the past year, despite the fact that major stock indexes have released new highs.
