Bitcoin price set for sudden crash? Billionaire ‘lambasts’ crypto market | City & Business | Finance

Warren Buffett, the CEO of Berkshire Hathaway, issued the scathing verdict during a shareholders meeting in Omaha, Nebraska.

He stated: “Cryptocurrencies will come to a bad ending.

“It essentially will not deliver anything other than supposed scarcity.”

However, the comments from he billionaire come during a time Bitcoin prices are surging.

The virtual money has added $2,563.48 to its value in the last month, marking a price hike of 37.9 per cent.

Bitcoin is currently trading at $9,327.96 at the time of writing.

Although the cryptocurrency has severely slumped since reaching whopping figures of almost $20,000 back in December, it appears to be pushing towards the $10,000 price mark.

Mr Buffett has not been shy about expressing his scepticism for cryptocurrencies.

Earlier this year he declared reiterated that Bitcoin will come to a “bad ending” but admitted that he did not know when a cryptocurrency crash would occur.

He said: “In terms of cryptocurrencies, generally, I can say…