Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Buffett Gives Big Thumbs Down to Cryptocurrencies

Published 01/11/2018, 07:10 AM
Updated 01/11/2018, 07:10 AM

Investing.com - Legendary investor Warren Buffett is about as negative as you can be about Bitcoin and other cryptocurrencies.
Buffett believes "with almost certainty that they will come to a bad end", according to an interview on CNBC.
The chairman and CEO of Berkshire Hathaway (NYSE:BRKa) said he wouldn't even bet against digital currencies by taking a short position. "We'll never have a position in them," he said.
Buffett is famous for his so-called value approach to investing. His company invests mostly in traditional, so-called brick and mortar companies,
He was skeptical about the dot com boom two decades ago.
He has, however, invested in Apple (NASDAQ:AAPL) and IBM (NYSE:IBM).

Latest comments

Once upon a time he was a value investor. Now he is a socialist investor in that he invests in assets that the federal government backstop. Private profits socialized losses. Obviously the government would never support Bitcoin prices (nor should it), therefore Warren won't invest in it. Patrick Byrne, who was mentored by Warren as a teenager/young adult, is selling off Overstock's retail business in order to go all in on his two big crypto ventures. Byrne is the smartest guy in every room he's ever been in.
He invested millions on Herbalife
Warren buffet has always avoided technology stocks because he says he does not invest in anything he does not understand yet now hes the cryptocurrency expert. O he will not short them even though he says they will not last because you will not take any position, that makes a lot of sense /sarcasm
Bitcoin has no value. The only value it has is people s money buying it. Soon it will come to a bad end. In addition bitcoin and other crypto will make money laundering so easy and hard to trace crime money. I just cannot see a future in those.
Yes crypto currency are fake and overhyped currencies just to attract people and one fine day a bad trauma to the one who purchased it... Sick currency I must say... don't don't don't don't invest in crypto currencies....
Warren Buffet is the pro. Y'all should listen to him.
he's scared he will be poor soon
U are wrong. Buffet can never be poor. Not in this lifetime.
Sure he will
Of course Warren Buffett can say that. He got tons of billions of dollars but we are small investor I just trying to make a buck
Well... You can invest in it if you wish to but it's still worth considering the extreme volatility of the cryptocurrency market.
This is the 2nd article here I've seen that doesn't mention the rest of his quote. He ALSO SAID he wouldn't short Bitcoin/cryptocurrency because he doesn't know anything about it. In other words, he actually admits he's not qualified to give advice one way or the other about cryptocurrencies.
That's good to know. It makes these articles kind of misleading to have that part omitted.
Thanx!
Buffett is the LAST person to be able to give a prognostication on Crypto as he finally understood the value of Apple in 2017! Are we still taking the groundhog serious if he sees his shadow too?
I’d take the groundhogs shade more serious than this old guy
Considering the extreme volatility of cryptocurrencies, the fact that Buffett is the second wealthiest person alive, and that he is widely considered the best investor in existence, his opinion is probably worth considering. If you know anything about Buffet, he is a very cautious yet patient investor, and even an Average Joe could see the huge risks of investing in such an overly volatile market.
This old guy is afraid of the changing world. He knows he didn’t get in early, and he’s salty. He knows if crypto succeeds, his investments are going to turn negative, and the government controlled dollar will and should have already failed.
Unfortunately the reality is crypto has limited functional value and is overpriced
According to who? You? What qualifies you to make that statement? And which particular cryptos? Are you putting them all in the same category?
He literally praised them back in November on twitter... this is hilarious. FUD.
Stock is for old slow people, the era of 1000% is here, live with it Buffett !  Cryptos are becoming businesses that are actually making life easier and cheaper. Not like Apple or any other toy company.
Hah! Very drol
american investing you are one day late. brazil had that news yesterday in brazilian investing. you are right warren. no intristic value, no option too
Good for him.
Good for u when you lose it all
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.