Bitcoin and other criptomoedas will definitely come to a bad end, according to the Oracle of Omaha, Warren Buffet. In an interview with CNBC Jan. 10, the billionaire manager of Berkshire Hathaway's investment group said he believes there are no positive results for newborn financial technology:
"In terms of crypto-coins, in general, I can say with almost certainty that they will lead to a bad end. When it happens or how or something, I do not know."
The investment magnate also indicated that he has nothing invested in Bitcoin or other crypto-coins, stating:
"If I could invest a period of five years in each of the crypto-coins, I would be happy to do so, but I would never earn ten cents. We do not own any Bitcoin, we will never invest in them."
A put is a type of contract that allows investors to sell certain securities at a specific price at a specific time. An investor would buy a put if he believed that the underlying security - in the case of Buffet, all crypto-coins - would decrease in value.
FUD or basic?
While Buffet's clear concerns may scare investors, many in the crypto-currency world will probably see them as FUD - or fear, uncertainty, and doubt. One reason is Buffet's lack of knowledge about crypto-coins. In the interview, he told reporters:
"I already have enough problems with things that I think I know a little. Why should I invest in something that I do not know about."
Buffet has already shared his opinion that Bitcoin and other crypto-coins are bubbles.
Yeah hi is old probely yet not have invest in crypto
Buffet don´t know anything about this new kind of investment. He only knows about stocks.