Investor Warren Buffett Issues Scary Predictions On Cryptocurrency, ‘Will Come To A Bad Ending’
Billionaire investor Warren Buffett says cryptocurrencies are headed for disaster. Buffett, who is the chairman and CEO of investment house Berkshire Hathaway, said that cryptocurrencies such as Bitcoin “will come to a bad ending.” Buffett, who has a net worth of over $84 billion appeared on CNBC‘s Squawk Box on Wednesday where he issued his dire predictions on cryptocurrency.
“We don’t own any, we’re not short any, we’ll never have a position in them,” Buffett said. “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.” The billionaire investor known around the world for his incredible moneymaking skills said that the price of cryptocurrencies would be declining over the next five years. The 87-year-old, who is nicknamed the Oracle of Omaha, did concede that he did not know a lot about Bitcoin futures though.