Cramer: There was no malice in Warren Buffett's dire prediction for bitcoin

  • There was no malice in Warren Buffett's prediction that the craze over bitcoin and other cryptocurrencies won't end well, CNBC's Jim Cramer says.
  • Buffett "didn't want to hurt people," Cramer says.

There was no malice in Warren Buffett's prediction that the craze over bitcoin and other cryptocurrencies won't end well, CNBC's Jim Cramer said Wednesday.

Earlier in the day, the chairman and CEO of Berkshire Hathaway told CNBC that he would "never have a position in" cryptocurrencies and said he believes "that they will come to a bad ending."

"He doesn't know when it's going to crash, but he didn't say it was a fraud," Cramer said on "Squawk on the Street." "But he basically told you what a lot of the people at the network were trying to do. Not hurt people. He didn't want to hurt people."

Buffett isn't afraid to say what he thinks, Cramer said.

Buffett's comments came a day after J.P. Morgan Chase Chairman and CEO Jamie Dimon backpedaled on his earlier criticisms of cryptocurrencies. In September, Dimon called bitcoin a fraud.

Cramer also has been critical of bitcoin and other cryptocurrencies, telling investors last month that they should be a little more careful and know the risks.

"I'm not denying the cryptoworld, I'm supporting the cryptoworld. I think that crypto is great. ... But I think we have to be a little more careful," he said in December.

On Wednesday, Cramer said he's "a believer in anything because it trades."

"But if we're going to start saying if bitcoin comes down, we got to get out of stocks — that doesn't ... it just doesn't compute to me," said Cramer, host of "Mad Money."

ALSO WATCH: Warren Buffett: Cryptocurrency will come to a bad ending

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