Warren Buffett thinks bitcoin will "come to a bad ending"

2018/1/11 12:22:17

The boss of Berkshire Hathaway wades in on cryptocurrency craze, saying: “We don't own any, we're not short, we'll not grab a position in them."










By Lynsey Barber, technology editor for City A.M., Jan 10, 2018


Warren Buffett, the cherry Coke-swilling boss of investor Berkshire Hathaway, said "with almost certainty" that cryptocurrencies "will come to a bad ending".


During an interview with CNBC, he added: "When it happens or how or anything else, I don't know."


Read moreA robot could soon be investing in bitcoin on your behalf


The self-made billionaire's comments came after he labelled bitcoin a "mirage" and a joke back in 2014.


Buffett also refused to jump on board with bitcoin futures, despite talk of the contracts, which were launched by two US exchanges in December, adding an air of respectability to the crypto craze. Bitcoin futures are expected to attract a greater number of institutional investors this year.


"I get into enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don't know anything about?" he asked.


"We don't own any, we're not short, we'll not grab a position in them."



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