WARREN BUFFETT: Bitcoin is 'probably rat poison squared'

Paul Morigi/Getty Images for Fortune/Time Inc

Warren Buffett, who hasn’t shied away from letting his opinion of cryptocurrencies be known, has doubled down on his scepticism of the digital assets.

Speaking to CNBC anchor Becky Quick ahead of Berkshire Hathaway’s annual meeting in Omaha, Nebraska on Saturday, the billionaire investor said bitcoin– the largest and most well-known cryptocurrency – is “probably rat poison squared.”

Earlier this year, the 87-year-old said bitcoin would “definitely come to a bad ending.”

“We don’t own any; we’re not short any,” Buffett said in an interview on CNBC. “We’ll never have a position in them.”

Since January, the price of bitcoin has fallen by 28% – a steep departure from its astronomical gains in late 2017 that saw its price hit a high of $US19,843 in December. It’s currently trading at $US9,921 a coin.

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