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Warren Buffett and Jamie Dimon Say Beware of Bitcoin

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Warren Buffett’s and Jamie Dimon’s views on Bitcoin

Previously, we discussed Warren Buffett’s and Jamie Dimon’s optimistic views on the US economy (SPY) (DIA). They also shared their views on Bitcoin in their interview with CNBC’s Squawk Box.

At Berkshire’s 2018 annual shareholder meeting in May, Buffett told investors that Bitcoin is “probably rat poison squared,” and advised investors against cryptocurrencies. He also said that his company, Berkshire Hathaway (BRK-B), had never taken any position in digital currencies and would not be doing so.

Bitcoin’s performance

When asking about investment opportunities in Bitcoin, Dimon said, “I don’t want to be a bitcoin spokesman,” adding, “just beware.” Bitcoin reached a record high of $19,343 on December 16, then fell gradually to $7,616 on June 8. There was a sharp decline in cryptocurrencies after a South Korean cryptocurrency exchange was hacked over the weekend. Bitcoin prices dropped nearly 10% on June 10. To learn more on investors’ views, read Leon Cooperman: US Equity Bear Market Conditions Aren’t Present.

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