Renowned investor Warren Buffett believes that investing directly into Bitcoin and other cryptocurrencies is still a bad idea.
Speaking to CNBC on Wednesday, Buffett said that neither he, nor his long-time partner Charlie Munger, had taken any position on cryptocurrencies.
“We don’t own any, we’re not short any, we’ll never have a position in them. In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” he said.
Buffett has long taken the stance that he didn’t understand enough about how cryptocurrencies work to make an investment into them, and reiterated that this was still the case.
“I get into enough trouble with things I think I know something about,” he said, “why in the world should I take a long or short position in something I don’t know anything about.”
While Buffett remains bearish on cryptocurrencies, he said that their were some investments he would consider, if they were available.
“I know this, if I could buy a five year put on every one of the cryptocurrencies, I would be glad to do it, but I would never short a dime’s worth,” he said.
The price of bitcoin declined 3.69% to $13,907 on Wednesday, according to CoinDesk, however the cryptoccurrency is still up more than 1,500% over the past 12 months.