This is what Buffet said:
When 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. 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.
You aren’t investing when you do that. You’re speculating. There’s 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
Which suggests he thinks bitcoin and other cryptocurrencies are Ponzi schemes which isn't true because they are actually used outside of speculation.
People get paid in cryptocurrencies, people buy items with cryptocurrencies.
Ironically, stocks themselves aren't used for anything else apart from speculation: when you buy stocks of a company you're hoping another person pays more for it. You can't buy items with stocks, you can't pay for services rendered in stocks.
So I guess investing in stocks is gambling too
