Jan 10, 2018

Warren Buffett says cryptocurrency craze won't end well

Warren Buffett

Berkshire Hathaway CEO Warren Buffett. Photo: Paul Morigi / Getty Images

Billionaire investor Warren Buffett is not a fan of Bitcoin. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," he told CNBC Wednesday.

Key quote: "We don't own any, we're not short any, we'll never have a position in them," the CEO of Berkshire Hathaway said. "I get into enough trouble with things I think I know something about." His comments come a day after J.P. Morgan CEO Jamie Dimon said he regrets mocking Bitcoin.

More from Buffett's CNBC interview:

  • On tax reform: "The markets are not richly valued relative to rates right now." Said the tax cuts are a "huge factor in valuation."
  • The billionaire investor also appointed two new vice chairs, Ajit Jain and Gregory Abel, to Berkshire Hathaway's board, cementing their potential to take over as his successor as CEO.
  • Buffett, 87, said he's "in remarkably good health": He said he feels "terrific" and if he were experiencing any health issues he would immediately tell the board and Berkshire shareholders.
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