In his latest visit to his hometown of Omaha, Nebraska, where he hosts a casual event for business students, one of the attendees asked Warren Buffett a question about Bitcoin. As a clarification, Buffett went on to say that cryptocurrencies like Bitcoin are a very effective way of transmitting money, and you can do it anonymously and all that, but it doesnt mean much in the grand scheme of things: A check is a way of transmitting money, too.
Are checks worth a whole lot of money just because they can transmit money?. He finished his statement with a harsher criticism of Bitcoin, saying that the idea that [it] has some huge intrinsic value is just a joke, in my view.
The fact that he's trying to compare BTC with a check in value transmission actually shows his ignorance when it comes to the technology behind cryptocurrencies. In the grand scheme of things, it's really the system behind the check that's becoming irrelevant. It's inefficient and it's costly in its own way.
Doesn't he also see that banks are starting to do R&D on distributed ledgers?
He's old but I hope he'll have enough time to think deeply about BTC and have his own aha moment.