Warren Buffett Warns of Bank Failures and Labels Bitcoin a "Gambling Token".

Bitcoin reached a 10-month high of over $30,600, while Ethereum reclaimed its $2,000 level for the first time in nearly a year. However, Warren Buffett remains a skeptic of digital currencies, calling bitcoin "a gambling token" and stating that it has no intrinsic value. Buffett and Berkshire Vice Chairman Charlie Munger have been vocal critics of cryptocurrencies, with Munger even urging U.S. lawmakers to ban them. Despite this, other experts cite growing use cases and overseas adoption, with ARK Invest raising their bitcoin price target to $1.48 million by 2030.