His logic is very clear, and makes a lot of sense. The problem with it is that despite gold being a bad investment, its value is STILL $9.6 trillion. It has val

His logic is very clear, and makes a lot of sense. The problem with it is that despite gold being a bad investment, its value is STILL $9.6 trillion. It has value because it is effectively deflationary, and can be used as a risk-management tool that works better than cash, allowing you to avoid inflation. Buffet knows this, and I even recall that he bought a sizeable amount of silver a while back. I assume he also bought gold before too. He doesn't put the bulk of his assets in it. Most people don't. That's why Gold is only about 3% of the world's wealth. Cryptocurrency's value is $600 billion, and by many arguments works better than gold for this purpose. This suggests to me that it would replace gold, making it potentially a good investment (even now). Once it replaces gold, it then only becomes a good hedge, and no longer a long-term investment.