Warren Buffett warned investors to stay away from Bitcoin, calling it "a mirage," saying that, while it may be a better way of transmitting money, the "idea that it has some huge intrinsic value is just a joke."
"The historical track record of old white men crapping on new technology they don't understand is at, I think, 100%," said venture capitalist (and younger white man) Marc Andreessen.
Warren Buffett has made his money in the old Fiat system and he does not understand new cutting edge technologies, so it is a natural response from someone who will most likely stick to something they know and understand.
Bitcoin has outperformed Buffett’s " Berkshire Hathaway for the last few years, so that must tell you something. ^smile^
Yes, for these reasons is very unlikely Warren Buffett invested in Bitcoin. Also, having studied his investment strategy, I know he's a very cautious guy, who rarely take risks in his investments. He prefer to put all his money in more stable businesses and safe place. Bitcoin is too volatile for his mindset. He never invested in something like this.
Anyway, what he said about Bitcoin is not so wrong. This "while it may be a better way of transmitting money, the idea that it has some huge intrinsic value is just a joke." He considers Bitcoin more a payment system than an asset.
