Bitcoin Has Little Shot At Ever Being A Major Global Currency

With cryptocurrencies still in the news, tumbling 10 percent to 20 percent in recent days thanks in part to a change in calculating how the coins are valued, the debate rages on as to whether Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin are, in fact, money.

The Oracle of Omaha, Warren Buffett, said on CNBC Wednesday morning that the speculation in Bitcoin, and other cryptocurrencies, “will have a bad ending.”

Appropriately, Dogecoin, a digital currency that began as a joke based on an internet meme, has risen sharply in recent days and hit a total value of $2 billion. By Wednesday it had retreated to a market value of about $1.5 billion, according to CoinMarketCap.

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