Buffett says he will never invest in cryptocurrencies

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January 10, 2018 9:11 AM EST

FILE PHOTO: Berkshire Hathaway CEO Warren Buffett visits the BNSF booth before the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., May 6, 2017. REUTERS/Rick Wilking/File Photo

(Reuters) - Berkshire Hathaway's Warren Buffett said on Wednesday he will never invest in cryptocurrencies.

"I can say almost with certainty that cryptocurrencies will come to a bad end," Buffett told CNBC in an interview.

Buffett's comments come a day after JPMorgan & Chase Chief Executive Jamie Dimon said he regrets calling bitcoin a fraud, referring to comments he made at a banking conference in September. [nL4N1P4434]

Bitcoin has taken the investing world by storm, surging to a high of more than $19,000 and created a divide on Wall Street about whether it is a legitimate financial instrument.

Bitcoin was down around 3 percent at $13,981.53.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Saumyadeb Chakrabarty)


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Warren Buffett, JPMorgan, Jamie Dimon, Bitcoin