Like the article says, he doesn't invest in what he doesn't know. He also probably shouldn't make disparaging comments about things he doesn't know a lot about.  His comment is interesting but misses the point.  In my opinion, bitcoin doesn't have a great deal of intrinsic value because it's a great way of transmitting money, but rather because there is a finite supply of bitcoin that will ever be available.  The technology behind it, of course, makes the whole thing viable.  Buffett is also probably threatened by the notion of a currency that competes with the central banks he works with closely.  His companies make a lot of money from the old way of doing things.  He doesn't want to see disruption unless it is his company doing it.