"This will come to a bad end": Star investor Warren Buffett warns of cryptocurrencies. Instead of investing in Bitcoin, he would rather speculate on the price decline.
Star investor Warren Buffett has commented on the cry for cryptocurrency. Bitcoin and other digital currencies are out of the question for the 87-year-old. In the US broadcaster CNBC, he instead warned investors of the digital currencies.
"I can say with utmost certainty that they will come to a bad end," said Buffett. By his own account, he speculated with his investment firm Berkshire Hathaway but so far not on a crash.
He denies the question of whether he would bet with so-called futures against cryptocurrencies. However, with long-term option transactions - for example, over a period of five years - he would bet on price depreciation, if that were possible. However, Buffett also openly admitted that he does not know very well about Bitcoin and Co. "But I think what's going on now will definitely end badly," Buffett said.
Bitcoin broke new records again and again last year. Recently, bitcoin cheapened. However, other crypto currencies gained some of their value in recent weeks.
And some companies try to use the hype for themselves. So the tech pioneer Kodak announced to introduce its own digital currency for photographers. The company's share price doubles as a result.
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its a informatin.i apricate your sweet post..thanks a lot..carry on..
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well, he knows very little about bitcoin but is predicting the future of it?
thats crazy innit? we all know bitcoin will crash like every other currency but I am not expecting it to crash now or sooner
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Agreed..
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You got a 5.38% upvote from @allaz courtesy of @sarasate!
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He missed also the opportunities in Internet. He has a more traditional way of investing, which has worked quite well for him actually. He doesn't understand it as he recognises himself.
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