Warren Buffett considers that the madness with Bitcoin will not finish good

Warren Buffett considers that the madness with Bitcoin will not finish good

Nor will he ever have an investment in cryptocurrencies.

With the cryptocurrency craze in full swing, not everyone is willing to jump on board.

The US billionaire and investor Warren Buffett told that the current madness for the Bitcoin and the other cryptocurrencies will not finish good.

"In terms of cryptocurrencies, generally, I can say with nearly certainty that they will come to a bad ending", the chairman and CEO of Berkshire Hathaway said.

Buffett was interviewed by CNBC in Omaha, Nebraska.

Of options trades that would profit from price declines, he added: "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth".


The company's famous founder and Berkshire Hathaway vice-chairman Charles Munger will continue in their positions but in an interview with CNBC, Mr Buffett indicated the appointments are part of a broader long-term strategy for the company. To be fair, though, Buffett did concede that he doesn't know much about cryptocurrencies.

"When it will the collapse or how - I do not know", added he. "Why, with all the other options, I have to borrow a long or short position for something I cannot understand", added the investor.

"What's going on definitely will come to a bad ending", he said.

Incidentally, Buffett has been talking about cryptocurrency for years now, though never in a positive light.

Investors and analysts have long considered Abel and Jain the top candidates to eventually succeed Buffett, 87, as chief executive, though Abel is more than a decade younger.

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