Billionaire investor Warren Buffett told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well.
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," the chairman and CEO of Berkshire Hathaway said.
"When it happens or how or anything else, I don't know," he added in an interview on CNBC's "Squawk Box" from Omaha, Nebraska. "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."
calvintaneng
Bitcoin is like Geneva Gold
In Geneva Gold at least you get to own some real gold bars (Yet Geneva Gold gone bankrupt. Those fortunate ones who had gold bars only lost 30% to 50%. Those who had Geneva Gold cert had total 100% losses)
For Bitcoin some might lose 100% eventually when the musical chair stops.
Bitcoin is another ponzi game of no real value creation. Last time even Hong Kong & Shanghai Bank lost a cool Billion USD through Madoff Ponzi game.
2018-01-11 11:35