Warren Buffet on an interview with CNBC said that Bitcoin and other cyrpto currency have no value,he said they don't produce anything "you don't do anything with it except sell it to someone else" he said is just Bitcoin will just reduce the demand of suitcase.
Seeing these statement I had to bring it up in Bitcoin discussion ,but at the same time every one has his entitlement or point of view..
Warren Buffet is a great investor and an ingenious person. However, when it comes to questions about innovations in technological aspects and decentralized monetary systems, he clearly shows his lack of understanding, consistently expresses doubts about new technologies due to his lack of grasping new. Warren Buffet still can't accept the fact that bitcoin is an advanced form of money, the money we have never seen before. Being merely money, bitcoin doesn't need to produce anything. It only should serve as an efficient medium of exchange. It is a tool to facilitate exchanges between people, and it is doing a great job at it because it has all the important characteristics money should have.