Warren Buffett on Bitcoin: “I’ll never buy Bitcoin or cryptocurrencies”

For billionaire Warren Buffett, one of the richest persons in the world and arguably one of the greatest stock investors, the recent craze over bitcoin and other cryptocurrencies is not going to end well and will surely “come to a bad ending”.

He revealed this during an interview with TV network CNBC, when asked what his opinion was on cryptocurrencies.

Here are highlights of the interview, focusing on Warren Buffett’s take on bitcoin trading and investing in cryptocurrencies.

“Bad ending” for bitcoin and cryptocurrencies

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

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,” Buffett says.

On trading bitcoin or taking a short position on cryptocurrencies

He was asked: “Have you thought about trading the futures, to take a negative position on bitcoin?”

His response:

“No. We don’t own any, we’re not short any, we’ll never have a position in them.

I get into enough trouble with the 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?”

Buffett’s focus is on 8 or 10 companies with “decent businesses”

“We don’t have to know what cocoa beans are gonna do, or any cryptocurrencies. We just have to focus on eight (8) or ten (10) stocks. The business, basically, that we think are decent businesses.

I think what’s going on definitely will come to a bad ending. I mean you’ve got virtually everybody (on it). I have eleven schools coming on Friday, and the questions will be on Bitcoin and I won’t know the answers,” he explains.

“It would be much more interesting to the audience that we were going to issue a whole new series of cryptocurrencies tomorrow but, no, we aren’t, believe me.

We don’t own any, we’re not short on any, and we’ll never have a position in them,” ends Buffet.

Watch the CNBC video interview of Warren Buffet here:

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6 thoughts on “Warren Buffett on Bitcoin: “I’ll never buy Bitcoin or cryptocurrencies””

  1. Thanks to him, I was able to buy cryptocurrency at a small price and raise money on it. I think so did he, because after the statement some insecure users started selling it sharply. And I looked at coinigy price and bought, then added a couple more times, and earned as much as in 3 years of work with an average salary.

  2. In fact, you are doing the right thing if you buy Ethereum. This cryptocurrency is one of the most promising for long-term investments. You can buy this cryptocurrency at https://j2tx.com/ .
    This is the easiest way because you don’t have to wait for your transaction to be confirmed. Credit card payments are also available here. Isn’t it great?

  3. Have you bowed down before the here and powerful Oz? No, I’m not referring to the fictional wizard from Dorothy’s magical land. I’m talking about mass-marketed medical guru and Oprah protégé, Dr. Oz. And while he may be powerful, the scientific community is not convinced that his recommendations are all that great.

  4. It’s certainly very interesting financial news, but I wouldn’t go along with Buffett on cryptocurrencies. Buffett is a standard old American investor who doesn’t really want to understand new instruments, because he just needs a certain yield and he doesn’t want to get ahead of himself, because he needs to take risks, and he’s at an age where the reputation of his personal and his fund means a lot to him. Just read the article https://wallstreethack.com/what-is-business-analytics/, which explains Buffett’s operating model by which he makes his investments.

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