Warren Buffett: cryptocurrencies will meet a bad end

Warren Buffett, one of the richest people in the world (for a time period, he was the #1 richest man on Forbes), warns investors that cryptocurrencies are dangerous and they are going to meet a sad demise. He said this in the latest interview to CNBC, in the financial programs of which one can often find traditional and famous investors speaking out.

Furthermore, the billionaire investor who earned the respect of entrepreneurs from all over the world, has calmly admitted that he did not know Bitcoin futures and how they work in detail, and his wealthy Berkshire Hathaway fund is not going to invest in anything similar.

This is not the first time when the celebrated and prosperous businessman, whose books on finance are sold worldwide, speaks out on cryptocurrency: he already called them a bubble during the last year. Before this happened, using the fact that Warren Buffet did not speak on cryptocurrency, the Web users pranked cryptocurrency enthusiasts on Twitter by creating fake accounts with quotes attributed to Buffett (while in reality he, for instance, never talked about the usefulness of Bitcoin).