Warren Buffett on cryptocurrencies

Major cryptocurrencies have seen strong performances in the past few months. Currently, bitcoin is the prominent cryptocurrency. It has had a strong performance in the past one year with gains of 1,588%. It made a record high of $19,343 on December 16, 2017. Warren Buffett said, “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.”

Warren Buffett on Cryptocurrencies: ‘They Will Come to a Bad Ending’

He also added, “When it happens or how or anything else, I don’t know. 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.” He also said that his firm doesn’t have any long or short positions on bitcoin futures.

Many prominent market participants and fund managers already warned that the strong bitcoin rally could be dangerous for the market (SPX-INDEX) (SPY) (COMP-INDEX) (QQQ) and was likely just a bubble. On Thursday, January 11, 2018, bitcoin fell nearly 6% on early trading on the news that South Korea might ban trading on cryptocurrencies. Ripple and ethereum, other cryptocurrencies, fell 9% and 11%, respectively, on the day during early trading.

In the next part of this series, we’ll analyze Warren Buffett’s top buys in 3Q17.

Latest articles

15 Jul

Will Amazon Prime Day 2019 Break 2018's Record?

WRITTEN BY Jitendra Parashar

This year, Amazon extended its Prime Day to 48 hours instead of the 36-hour sale in July 2018, making the 2019 event the longest Prime Day ever.

In a series of tweets on Monday, Trump today weighed in on China’s GDP growth, which came in at a 27-year low.

15 Jul

OrganiGram's Third-Quarter Earnings


On Monday morning, OrganiGram's third-quarter earnings came in as a bit of a let-down. Here's why.

Trump is reportedly planning to increase the content of US-made steel in federal projects, which would be a lifeline for US steel companies.

Huawei is preparing for “extensive layoffs” in the US, which could put the US-China trade deal on the rocks.

With Q2's Netflix earnings just around the corner, here's what you can expect from the online streaming giant and the broader streaming space.