27 Mar '14, 4am

Bitcoin Battle: Warren Buffett vs. Marc Andreessen

Bitcoin Battle: Warren Buffett vs. Marc Andreessen

Legendary investor Warren Buffett and venture capitalist Marc Andreessen debate the merits of Bitcoin. Earlier this month, famed dealmaker Warren Buffett warned investors to stay away from Bitcoin , calling it “a mirage,” saying that, while it may be a better way of transmitting money, the “idea that it has some huge intrinsic value is just a joke.” While interviewing Bitcoin investor Marc Andreessen at a CoinSummit “fireside chat” (minus the fire) Tuesday, I asked him to respond to Buffett. He supplied the missing flames. “The historical track record of old white men crapping on new technology they don’t understand is at, I think, 100%,” said venture capitalist (and younger white man) Marc Andreessen. Fellow Andreessen Horowitz partner Balaji Srinivasan quipped that Bitcoin has outperformed Buffett’s “Berkshire Hathaway Berkshire Hathaway by a lot in the last year.” (42 m...

Full article: http://www.forbes.com/sites/kashmirhill/2014/03/26/warren...

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