Tags: buffett | invest | cryptocurrencies | bitcoin

Buffett on Cryptocurrencies: 'They Will Come to a Bad Ending'

(Paul Morigi/Getty Images)

Wednesday, 10 January 2018 09:16 AM

Berkshire Hathaway's Warren Buffett said on Wednesday he will never invest in cryptocurrencies.

"I can say almost with certainty that cryptocurrencies will come to a bad end," Buffett told CNBC in an interview. 

"When it happens or how or anything else, I don't know," he said in an interview on CNBC's "Squawk Box" from Omaha, Nebraska.

Buffett's comments come a day after JPMorgan & Chase Chief Executive Jamie Dimon said he regrets calling bitcoin a fraud, referring to comments he made at a banking conference in September.

Bitcoin has taken the investing world by storm, surging to a high of more than $19,000 and created a divide on Wall Street about whether it is a legitimate financial instrument.

Bitcoin was down around 3 percent at $13,981.53. 

For his part, Buffett said he would not take a short position on bitcoin futures. "We don't own any, we're not short any, we'll never have a position in them," he said.

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

© 2019 Thomson/Reuters. All rights reserved.

   
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Berkshire Hathaway's Warren Buffett said on Wednesday he will never invest in cryptocurrencies.
buffett, invest, cryptocurrencies, bitcoin
192
2018-16-10
Wednesday, 10 January 2018 09:16 AM
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