Warren buffet said that never will invest in cryptocurrency

Warren buffet said that never will invest in cryptocurrency

Billionaire Warren Buffett, one of the most successful investors in the world, said that he will never invest in bitcoin.

«In General, speaking about cryptocurrency, I can say almost with certainty that they are waiting for an unhappy ending,» said the head of the multinational holding company Berkshire Hathaway in an interview with CNBC.

This review Buffett gave a day after Executive Director JPMorgan & Chase Jamie Dimon was back on his word about bitcoin in September 2017. The Executive Director was then called cryptocurrency «fraud» and said it «will not end well.»

Charles Munger, another well-known investor and a good friend of Buffett’s, I agree with the statements colleagues.

Munger calls the rapid increase in the cost of cryptocurrency «absolute madness». Of the audience before which he performed at business School Rossa at University of Michigan, the investor said,»I think it is nonsense even to think about it [bitcoin]. Dishonest people, crazy bubble. To seduce citizens to the concept of easy money without much work for them is a bad idea«.

Investors have repeatedly made such statements and warned the public that the bitcoin «bubble», which should not be the case. However, this time their words are associated with the increase in the number of companies that are betting on the currency by introducing into use or an existing producing mine.

So, Kodak has announced this Tuesday 9 of January, to launch its own virtual currency KodakCoin. Such a move was made to improve the financial condition of the company, which barely stays on the move after returning from bankruptcy in 2012.