What does Buffet invest in and why does he think Bitcoin will have a terrible ending
WARREN BUFFET ON BITCOIN
Warren: In terms of crypto currencies generally, I can say almost with certainty that they will come to a bad ending. Now when it happens or how or anything else I don’t know. But I know this if I could buy long-term puts. 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 dimes worth.
Lady: have you thought about trading future to take a negative position on Bitcoin?
Lady: You would not do that?
Warren: No, there’s no reason. I get into enough trouble with things I think I know something about. Why in the world should I take a long or short position of something I don’t know anything about. So you know we don’t have to know what cocoa beans are gonna do or any cryptocurrencies, we just have to focus on 8 or 10 stocks that businesses basically that we think are decent businesses, but I think what’s going on definitely will come to a bad ending. I mean you’ve got virtually everybody. I have a class, I have 11 schools coming on Friday. The questions will be on Bitcoin and I won’t know the answers.
Lady: Although when we sat down Warren you did say I should have announced that we were getting involved in Bitcoin this morning.