Warren Buffett not biting on cryptocurrencies : Bitcoin

Warren Buffett isn’t buying the cryptocurrency craze.

“I can say with almost certainty that they will come to a bad ending,” the Berkshire Hathaway CEO said during an interview with CNBC.

As the price of bitcoin surged to a record high of nearly $20,000 (£14,800) in December, the alternative currency — and the idea of cryptocurrencies in general — generated intense interest from both amateur investors and from institutions like Goldman Sachs, which reportedly is setting up a cryptocurrency trading desk.

Mr Buffett, known for his often-prescient investing decisions, acknowledged that “virtually everybody” had seemingly expressed interest but said he would not invest in cryptocurrency.

“We don’t own any, we’re not short any, we’ll never have a position in them,” he said.

Bitcoin’s value has fluctuated over the last month, taking a precipitous plunge after soaring to new heights in mid-December.