What Buffett means by "understands how it works" is to say he understands how the businesses finance works. As an investor in coke, I'm sure he doesn't know muc

What Buffett means by "understands how it works" is to say he understands how the businesses finance works. As an investor in coke, I'm sure he doesn't know much about making the drink. When WB says he doesn't understand the business of bitcoin, it's because NO ONE understands the business of bitcoin. The market is a wild west of boom and bust every year. Buying bitcoin is speculating, not investing.