Warren Buffet Says Bitcoin Will Definitely Have A Bad Ending

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Berrshire Hathaway CEO Warren Buffett said Wednesday that the company had no interest in joining the Cryptocurrency train.

“We do not have one, we do not have one,” Buffett said in an interview on CNBC. “We will never have a position in them.”

In options trading, which would benefit from lower prices, he added, “If I could buy a five-year bond in any of the Cryptocurrencies, I’d like to, but I would never miss a penny.”

“What is going on will definitely have a bad ending,” he said.

Bitcoin, the Cryptocurrency, which became the largest of 1.377% in 2017, had an unstable start to the year with the Ripple XRP, while the second largest ether reached historic highs.

Buffett’s comments come a day after JPMorgan CEO Jamie Dimon said he regrets having called Bitcoin a “scam.”

Buffett said Berkshire Hathaway continued to focus on identifying and investing in good deals.

The conglomerate announced Wednesday that it would expand its board to 14 members, adds Gregory Abel and Ajit Jain. Buffett and Charlie Munger, Vice President of Berkshire Hathaway, remain on the Board of Directors.

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