Warren Buffet predicts bad ending for cryptocurrencies

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

When asked if he’s contemplated trading Bitcoin futures, Buffett said that he wasn’t interested. To be fair, though, Buffett did concede that he doesn’t know much about cryptocurrencies.

“I get into enough trouble with things I think I know something about,” Buffett added. “Why in the world should I take a long or short position with something I don’t know anything about… But I do think what’s going on will definitely come to a bad ending.”

Incidentally, Buffett has been talking about cryptocurrency for years now, though never in a positive light. Back in 2014, Buffett told investors that it was nothing more than a “mirage” and that investors should “stay away from it.”