Warren Buffett Thinks Bitcoin Will "Come To Bad Endings"

The investor said at Saturday's meeting'it would be a mistake to buy Microsoft

At Berkshire Hathaway's 2018 Annual Shareholders Meeting over the weekend, Buffett called cyber "unchartered territory" and said the fall-out and business risks from cyber-attacks are "going to get worse, not better".

Gates dismissed bitcoin as an asset class saying it does not support any real production activity and as such, there was no reason why it should be expected to increase in value. At a time when Bitcoins and other cryptocurrencies have witnessed a gradual decline after last year's high, Buffett suggested that buyers of Bitcoin "thrive on hope" that they will find other people who pay more for it.

One of the biggest names in the list of billionaire investors Warren Buffett is not particularly fond of bitcoin or the new digital era currency that took the world by storm previous year.

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Gates believes that Bitcoin and ICOs are "some of the crazier, speculative things" said Gates.

"I would short it if there was an easy way to do it", Gates told CNBC's Squawk Box Monday in an interview alongside Munger and Buffett. While Buffett's billionaire buddy Bill Gates probably won't be picking up an iPhone anytime soon, either, the Microsoft co-founder is also heaping a bit of praise on his one-time tech adversary. "It's kind of a pure "greater fool theory" type of investment", he said.

By design, Bitcoin price and other cryptocurrencies like it are very hard to anticipate in terms of value.

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While Bill Gates shares the disregard for cryptocurrencies, he did share that blockchain technology is valuable.

Warren Buffett is not in favor of investing in bitcoin and isn't holding his thoughts back. Though it certainly didn't help that billionaires Warren Buffett, Charlie Munger, and Bill Gates have taken turns criticizing the cryptocurrency in recent days. Bitcoin futures, as the name implies, allow investors to place bets on the future price of the flagship cryptocurrency through online brokerage firms such as Interactive Brokers or TD Ameritrade.

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