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Warren Buffett says bitcoin won't end well – here's how his past predictions have panned out

CNBC logo CNBC 13/01/2018 Sarah Berger
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Weighing in on the current cryptocurrency craze, billionaire investor Warren Buffett said that he believes the future of bitcoin is bleak. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," Buffett told CNBC on "Squawk Box" Wednesday.

In the wake of Buffett's remarks, Jim Cramer, host of CNBC's "Mad Money" tweeted out, "Does anyone else think it is as comedic as I do that the cryptomaniacs trashed Buffett as an old hack who doesn't understand good investments?"

The Shady Side of Bitcoin (Provider: GoBankingRates)

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"Buffett has admitted that he missed Amazon and Google. But how about the fact that he has outperformed every other manager on earth? Cryptomaniacs hate that, too?" Cramer wrote.

Indeed, the CEO of Berkshire Hathaway is famous because so many of his financial predictions have come true. That's how he ended up with a net worth of over $81 billion and the nickname "The Oracle of Omaha."

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