Warren Buffett thinks Cryptocurrencies will end Badly

Nishanth Shetty

January 11, 2018 10:00 am

Warren Buffett thinks Cryptocurrencies will end Badly | Coindelite News
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CEO of Berkshire Hathaway said that the recent craze on bitcoin and other cryptocurrencies are not going to end well.

Billionaire investor Warren Buffett told:

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

He includes that, he doesn’t know, when it happens or how or anything else. If he could purchase a five-year put on every one of the cryptocurrencies, he had been glad to do it but he would never short a money’s worth.

Buffett told he is not going to 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 included:

“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.”

Exchange platforms such as CME Group and Cboe Global Markets have opened their platforms to allow bitcoin futures trading.

The price of bitcoin declined 3.69 percent to $13,907 Wednesday, according to our Price Chart.

Buffett’s comments came a day after J.P. Morgan Chase Chairman and CEO Jamie Dimon changed his review on Bitcoin and appreciated the blockchain technology since, In September, Dimon called bitcoin a fraud.

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