Bitcoin and other cryptocurrencies will ‘come to bad ending’ says Warren Buffett

Warren Buffett has predicted a “bad ending” for cryptocurrencies.

Speaking on CNBC’s ‘Squawk Box’ program today the billionaire said he doesn’t own a single bitcoin and has no plans of investing in it.

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. When it happens or how or anything else, I don’t know."

Russia Today have described Buffett’s position as the latest in a chorus of other prominent investors who have publically doubted the bright future of cryptocurrencies.

The bitcoin price stopped at $13,907 on Wednesday. The digital currency has gone up 1,500 percent over the last 12 months, reaching a record price of over $17,500 in mid-December.

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