Agree wholeheartedly.  I'm a long-time admirer of Warren Buffett, and it's obvious to me why he doesn't invest in bitcoin--he doesn't know where it's headed, and he can't analyze it like he can a business.  Either you believe bitcoin has a future or you don't.  Either you think bitcoin's price is going higher or you don't.  Buffett can't determine whether it's undervalued or not like he can with a stock, and neither can anyone else here.  Sure, you can assert that you see from the charts that it's going to $100,000 but that's not being honest or using any sort of logic.

Buffett speculates too, but he's not throwing darts when he buys a stock.  He's brilliant and looks deeply at the business that's behind a stock before investing.  It makes all the sense in the world that he hasn't bought bitcoin, which could cause him to lose all the money he put into it.  Plus he'd have a very hard time justifying that to the Berkshire Hathaway shareholders.