Famed investor Warren Buffett has issued a warning to investors about rising speculation in financial markets, particularly as it relates to cryptocurrencies and prediction markets.
At the 2026 Berkshire Hathaway (NYSE: $BRK.B) shareholder meeting, Buffett warned about the rise in short-term trading and risky bets placed on cryptocurrencies.
Buffett said market behavior has moved closer to gambling as individual retail investors chase quick returns.
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“We’ve never had people in a more gambling mood than now,” said Buffett in a media interview. His pointed to trading in Bitcoin (CRYPTO: $BTC), meme stocks, and on prediction markets.
“The market always feels like a church with a casino attached,” he said.
Buffett was particularly critical of the rise in short-term options trading, saying that one-day options carry little link to business value or long-term investing.
“If you’re buying one-day options or selling them, that is not speculating. That is gambling,” said the Oracle of Omaha, as Buffett is known.
Buffett’s latest comments fit with his long-held criticism of Bitcoin and other digital assets. He has often argued that cryptocurrencies do not produce cash flow like a business and are more akin to speculation than long-term investing.
His latest remarks did not focus solely on crypto. Rather, Buffett said he is most concerned about the rise in speculative trading and the treatment of markets as gambling.
Buffett stepped down as CEO of Berkshire Hathaway at the end of 2025 after running the holding company for 60 years.
Berkshire Hathaway’s Class B stock has declined 8% in the last 12 months to trade at $473.01 U.S. per share.
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