Billionaire investor Warren Buffet said that he would never invest in bitcoin and cryptocurrencies, and warned other investors against it. Responding to questions at the Berkshire Hathaway’s annual meeting held on May 5, Buffett said that the cryptocurrencies will see their fall soon.

“If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth,” Buffett added. Berkshire Hathaway’s vice chairman, Charlie Munger, who has been associated with Buffett for a long time, also backed him, saying trading in cryptocurrencies is ‘just dementia’.

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