Warren Buffet doesn't speculate, and if you're buying crypto, you're speculating.
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.
Almost any profitable investment is risky. In any case Warren Buffet analyzed the stock markets, then invested his funds trying to hedge the risks, and he was successful on his way.
I don't agree that buying a crypto currency is a speculating. The price of a PoW based crypto currency has a prime cost that can be estimated from the resources spent for mining a coins. Advertising increases the demand for crypto currency, and its price grows. This is a market price, as the price of gold or other commodity.
I understand this quote of Warren Buffet like that: "be in the counter direction of the market movement", i.e. "you buy when others sell, and you sell when others buy". I approve this opinion.