Cryptocurrencies Will Come To a BAD ENDING? - Warren Buffett

Hello everyone,

This is a message from Warren Buffett, an American business magnate, investor, speaker and philanthropist. His current net worth is 88, 7 billion USD.

"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. Now 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."

Mr. Buffett mentioned why he doesn't want to do it, and here is the reason why:

"I get enough troubles with the things I think I know something about - why in the world should I take larger short position in something I don't know anything about?

We don't have to know what cocoa beans are going do or even cryptocurrencies - we just have to focus on eight, ten stocks - the businesses basically that we think are decent businesses, but I do think that what's going will definitely come to a bad ending."

Mr Buffet said bitcoin will not be a currency Berkshire Hathaway would invest on in the future. He said: “We aren’t, believe me. We don’t own any and we’re not short any and we don’t have a position in them.”

Here's an interview where he talks about the cryptocurrencies:

What is your opinion about investing into cryptocurrencies? Let me know what do you think and I'll join in the discussion below.