2013: What does Buffett think of Bitcoin?

AUDIENCE MEMBER: Good morning. My name is Benjamin. I’m from Appleton, Wisconsin, and I had a question for you regarding unregulated digital currency, such as bitcoin.

I was wondering what you think the significance of something like that showing up in the last few years is, and what you think that might mean for the future? Thank you.

WARREN BUFFETT: Charlie, I hope you know something about this subject because I don’t know a thing. (Laughs)

CHARLIE MUNGER: I know what he’s talking about.

WARREN BUFFETT: I know what he’s talking about, but I just don’t —

CHARLIE MUNGER: I have no confidence whatsoever in bitcoin being any kind of a big universal currency.

WARREN BUFFETT: That would certainly be my gut reaction, but I don’t — I haven’t really looked into it.

But I— I’ll put it this way: of our 49 billion, we haven’t moved any to bitcoin. (Laughter)

My— well, the truth is I don’t know anything about it. That doesn’t always stop me from talking about things, but it will in this case.