"Nothing sedates rationality like large doses of effortless money..."

Source: wikipedia

Said: Warren Buffett, Berkshire Hathaway 2000 shareholder letter. When asked for his views on bitcoin several years ago on CNBC, he adviced: "Stay away from it. It's a mirage, basically."

During the interview published on 14 Mach, 2014 on CNBC, Buffet said the following about the cryptocurrency.

"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."