Insta
Warren Buffet (Jamie McCarthy/Getty Images)
Billionaire investor and CEO of Berkshire Hathaway Warren Buffett has said that cryptocurrencies are headed for trouble. Appearing on CNBC’s “Squawk Box” on Wednesday (10 December), he said that "We'll never have a position in them”.
In the last few weeks , at least half a dozen companies with well-established brands have seen massive surge in their share price based on reports that they plan to build a business model based on cryptocurrencies or initial coin offerings.
Earlier this week, Ripple saw its value plunge by around 13 percent while the Bitcoin lost nearly 8 percent of its value.
Buffett said that he would not take a short position on bitcoin futures, and said, “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 dime's worth”.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest