Mr Buffett believes the bitcoin craze will end in disaster, and is not about to buy a stake in any cryptocurrency.
He told CNBC: “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.
“When it happens or how or anything else, I don’t know.”
The chairman and CEO of Berkshire Hathaway said he does not own any cryptocurrencies and will not take a position in bitcoin futures.
He said: “I get into enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don’t know anything about?”
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Meanwhile economist and Columbia University professor Jeffrey Sachs has also warned the cryptocurrency craze is a “bubble” with no real future.
Professor Sachs told CNN Today: “We have to distinguish the specifics of bitcoin, which I believe is a bubble that will not have a good ending, and the technologies that have been developed including with bitcoin so-called blockchain technologies that could be quite useful.
“But right now we have a kind of frenzy, a financial bubble, centred in Korea, that is underway and I think people are going to be very very disappointed indeed.
“Bitcoin, to my mind, doesn’t have staying power.”
He said the technology behind cryptocurrencies was “intriguing and very promising”, but that it was important to show caution when investing money, as the currencies would turn out to be “mostly bubbles”.
Bitcoin survived a substantial plunge over the Christmas holidays when virtual wallet holders saw the cryptocurrency drop to almost 50 per cent for four consecutive days.
The so-called bubble restored its value, reaching numbers very close to its $20,000 highest.
As of 17.38 on January 11, it was valued at $14,496 US.