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Will the Bitcoin Bubble Burst? Warren Buffett Thinks So

One News Page Staff Friday, 12 January 2018
Will the Bitcoin Bubble Burst? Warren Buffett Thinks Soby

While Bitcoin may have been around for some time as perhaps the most popular cryptocurrency around, it is only relatively recently that it has become particularly valuable to investors – and those based outside of the mining community. Mining for and harvesting Bitcoin can sound somewhat tricky at first – and it is largely left up to those really steeped in the process to extract the currency in its largest quantities. While Bitcoin is still very much big news, there is also a concern or two that a bubble of sorts could be due to burst – and a number of particularly wealthy investors agree with such assumptions.

Warren Buffett, billionaire and investor extraordinaire, is one such skeptic of Bitcoin’s worth in the long run – having recently advised to CNBC that cryptocurrencies in general may suffer on the longevity front. “I can say almost with certainty that cryptocurrencies Williamson come to a bad end,” Buffett stated – with his Berkshire Hathaway partner Charlie Munger agreeing that Bitcoin and the like were operating in so-called ‘bubbles’ – meaning that anyone hoping to cash in on the recent spike in popularity and value may do well to avoid the craze altogether. However, this is only one or two opinions – though they certainly hold some weight!

Warren Buffett Just Ripped Cryptocurrency to Shreds
Watch: Warren Buffett Just Ripped Cryptocurrency to Shreds

Cyprtocurrencies, regardless, seem to still be big news for the year ahead, with companies such as Kodak – previously known for producing photography supplies – launching their own currency in a bid to get into what is an increasingly popular market. Against accusations of the currencies sounding too ‘modern’ and too likely to fizzle out alongside hard currency, those who have piled the hours and effort into mining Bitcoin and the like will be keen to disagree – but when it comes to investing, who could argue with the likes of the immensely successful Warren Buffett?

2018 is set to still be a huge year for Bitcoin and its contemporaries, meaning that while the bubble theory is reverberating, there is still time to get involved – however, it is always worth reading up on a guide or two before you throw yourself into the fray. Can you prove Warren Buffett wrong and make a mint on virtual currency? Get some sound advice and follow the markets – and you never know quite how wealthy you could end up! Don’t bet on Bitcoin fizzling out just yet – but do keep an eye on One News Page for the latest Bitcoin news.

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Source: Wochit Business - < > Embed
News video: Warren Buffett Is Very Down On Bitcoin

▶ Warren Buffett Is Very Down On Bitcoin 00:35

Dimitrios Kambouris/Getty Images Of cryptocurrencies, Warren Buffett, Berkshire Hathaway's CEO, said: "What's going on definitely will come to a bad ending." Of options trades that would profit from price declines, he added: "If I could buy a five-year put on every one of the cryptocurrencies, I'd be...

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