Billionaire investor Warren Buffett (photo) 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.”
Buffett said he would not take a short position on bitcoin futures.
“We don’t own any, we’re not short any, we’ll never have a position in them,” he said. “I get into enough trouble with things I think I know something about,” he added. “Why in the world should I take a long or short position in something I don’t know anything about.”