Breaking News
0

Buffett Gives Big Thumbs Down to Cryptocurrencies

Cryptocurrency NewsJan 11, 2018 07:10AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

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).

Buffett Gives Big Thumbs Down to Cryptocurrencies
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
B.G. Tercero
B.G. Tercero Jan 12, 2018 2:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Reply
0 0
Christian Rosas
Christian Rosas Jan 11, 2018 4:36PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
He invested millions on Herbalife
Reply
0 0
Mike Leends
Mike_Leends Jan 11, 2018 3:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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
Reply
0 1
paul chahine
paul chahine Jan 11, 2018 3:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Reply
1 0
Nitin Gianchandani
Nitin Gianchandani Jan 11, 2018 3:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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....
Reply
0 0
Olufemi Adesodun
Olufemi Adesodun Jan 11, 2018 3:37PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Warren Buffet is the pro. Y'all should listen to him.
Reply
0 0
Peter Protus
LordMMX Jan 11, 2018 3:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
he's scared he will be poor soon
Reply
0 0
Olufemi Adesodun
Olufemi Adesodun Jan 11, 2018 3:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
U are wrong. Buffet can never be poor. Not in this lifetime.
Reply
0 0
Mazin Mudaree
Mazin Mudaree Jan 11, 2018 3:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sure he will
Reply
0 0
Lucas Ribeiro
Lucas Ribeiro Jan 11, 2018 2:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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
Reply
0 0
Bryce Springfield
Bryce Springfield Jan 11, 2018 2:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well... You can invest in it if you wish to but it's still worth considering the extreme volatility of the cryptocurrency market.
Reply
0 0
Chris Conlin
Chris Conlin Jan 11, 2018 2:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Reply
1 0
Bryce Springfield
Bryce Springfield Jan 11, 2018 2:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
That's good to know. It makes these articles kind of misleading to have that part omitted.
Reply
0 0
Dyslexic Investor
Dyslexic Investor Jan 11, 2018 2:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanx!
Reply
0 0
Barry Blalock
Barry Blalock Jan 11, 2018 2:07PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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?
Reply
1 0
John Valko
John Valko Jan 11, 2018 2:07PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I’d take the groundhogs shade more serious than this old guy
Reply
0 0
Bryce Springfield
Bryce Springfield Jan 11, 2018 2:07PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Reply
0 0
John Valko
John Valko Jan 11, 2018 2:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Reply
1 0
John Greeff
John Greeff Jan 11, 2018 2:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Unfortunately the reality is crypto has limited functional value and is overpriced
Reply
2 0
Jaxon Fasoné
Jaxon Fasoné Jan 11, 2018 2:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
According to who? You? What qualifies you to make that statement? And which particular cryptos? Are you putting them all in the same category?
Reply
0 0
Brandon Penalo
Brandon Penalo Jan 11, 2018 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
He literally praised them back in November on twitter... this is hilarious. FUD.
Reply
0 0
The Last Ben
The Last Ben Jan 11, 2018 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Reply
0 0
Very Long
Very Long Jan 11, 2018 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hah! Very drol
Reply
0 0
Jan 11, 2018 2:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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
Reply
1 0
Brian Zane
Brian Zane Jan 11, 2018 2:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Good for him.
Reply
1 0
trovisi Daniel
trovisi Daniel Jan 11, 2018 2:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Good for u when you lose it all
Reply
1 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email