Cryptocurrencies have often been a talk of the market, and there have been a number of discussions about whether cryptocurrency would fail or succeed in future. Whether monetary transactions would actually start occurring with cryptocurrencies like bitcoin, ethereum, Ripple, etc. and whether one should invest in cryptocurrencies and ICO’s (Initial Coin Offerings) or not.
When it comes to investments, one person that strikes the mind of every individual is Warren Buffet. Warren Buffet and his unique vision with respect to investments has achieved great success and is currently the third richest person in the world. The Chairman and CEO of Birkshire Hathaway believe that Cryptocurrency is going to end in future, and it is going to end badly.
He said that Birkshire Hathaway does not own a single cryptocurrency in its portfolio, nor do they have plans to position in them anytime soon. He feels that investors have a probability of getting into difficult situations while they know about the identity of the market they are investing into; then why would someone invest in something that they have no idea about. According to Buffet, it is difficult to determine when the cryptocurrency market would crash, but it is inevitable.
Many times, it has been noticed that people who invest in cryptocurrency have considered being stupid, and the various types of cryptocurrencies, especially the most commonly used currency call Bitcoin as the fraud.
The government of many countries are yet to regulate bitcoins and other cryptocurrencies. The blockchain technology is good and helpful in the decentralization of money, but having a regulatory body backing it up is also very important. The authenticity and viability of such currencies are always going to be a question until the government of the various nations backs it.