Buffett Bashes Bitcoin as Nonproductive, Thriving on MystiqueBuffett Bashes Bitcoin as Nonproductive, Thriving on Mystique

NEW YORK, May 7 (Reuters) - Billionaire investor WarrenBuffett on Monday said buyers of bitcoin, which he characterizesas "rat poison squared", thrive on the hope they'll find someoneelse who will pay more for it.

Likening bitcoin demand to tulip mania in 17th centuryHolland, Buffett, chairman and CEO of Berkshire Hathaway Inc, said the mystique behind the cryptocurrency hasproduced a surge in its price.

"It does create a rising price, creates more buyers... Ifyou don't understand it, you get much more excited," Buffettsaid on CNBC television.(Reporting By Jennifer Ablan and Jonathan StempelEditing by Hugh Lawson)