Warren Buffet Certain Cryptocurrency “Will Come to a Bad Ending’

Bitcoin, Litecoin, and many other forms of cryptocurrency have become the fad in the last year or so. Even I have invested some money into Litecoin, to see how it would do. Many have predicted that cryptocurrency will be the currency of the future, but what if they’re wrong? Billionaire investor Warren Buffet thinks that this is a ship heading towards the edge of the earth.

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” the continued, “When it happens or how or anything else, I don’t know. 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.”

CNBC reports:

take our poll - story continues below

Who should replace Nikki Haley as our ambassador to the U.N.?

  • Who should replace Nikki Haley as our ambassador to the U.N.?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Eagle Rising updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Also on the show, Buffett’s right-hand man, Charlie Munger, also blasted frothiness in bitcoin — and in venture capital funding.

Earlier Wednesday, the Omaha-based conglomerate announced the appointment of two new vice chairs. Gregory Abel, 55, will be vice chair of non-insurance businesses. Ajit Jain, 66, will be vice chair of insurance operations.

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,” said the CEO of Berkshire Hathaway.

 

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com


About the author

Keely Sharp

Keely Sharp

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

Send this to a friend