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Cryptocurrencies to end in tears, says investor wizard Warren Buffett

Ken Hagan Gold badge

I'm not sure the "don't understand" bit is entirely fair. What he doesn't understand is why anyone could possibly think these currencies were worth anything. That's different from understanding how they work. (Possibly he doesn't understand that either, but at least that is because he doesn't *need* to, given his position on their intrinsic value.)

On the other hand, he probably knows a pyramid scheme when he sees one.

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