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Here's why billionaire Warren Buffett will never invest in cryptocurrencies

Buffett's comments come a day after JPMorgan & Chase Chief Executive Jamie Dimon said he regrets calling bitcoin a fraud

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Berkshire Hathaway CEO Warren Buffett plays bridge during the Berkshire annual meeting weekend in Omaha, Nebraska on May 3. (Photo: Reuters)

Reuters

Last Updated : Jan 11 2018 | 8:11 AM IST

Berkshire Hathaway’s Warren Buffett said on Wednesday he will never invest in cryptocurrencies.

“I can say almost with certainty that cryptocurrencies will come to a bad end,” Buffett told CNBC in an interview.

Buffett’s comments come a day after JPMorgan & Chase Chief Executive Jamie Dimon said he regrets calling bitcoin a fraud, referring to comments he made at a banking conference in September.

Bitcoin has taken the investing world by storm, surging to a high of more than $19,000 and created a divide on Wall Street about whether it is a legitimate financial instrument.

Bitcoin was down around 3 per cent at $13,981.53.