Recently, Warren Buffett called Bitcoin “a mirage” and warned investors to stay away.
Today, at the CoinSummit in San Francisco, executives at Andreessen Horowitz, which has invested millions in Bitcoin and plans to invest “hundreds of millions more,” responded.
First, Marc Andreessen reportedly said Buffett’s remarks were an example of “old white men crapping on new technology they don’t understand.”
Here’s how Andreessen characterised the comment this afternoon on Twitter.
Then, Balaji Srinivasan claimed Bitcoin had outperformed Berkshire Hathaway “by a lot.”
This is all per Marketwatch’s Saumya Vaishampayan live-blog of the event.
Bitcoin prices stand at $US584.
Disclosure: Marc Andreessen, co-founder of Andreessen Horowitz, is an investor in Business Insider.