Why Warren Buffet does not want you to invest in cryptocurrencies?

Recently I saw on the internet an article that caught my attention: "Warren Buffett called bitcoin a Mirage ..." where he said: "... stay away from that ..." among other phrases that went in the same direction. I leave the link lines below.

Panoramic view of the New York Stock Exchange (NYSE)

With all the respect and admiration that deserves an extraordinarily wise man in this field which is an eminence like Warren Buffet, until now (I do not say it, but the numbers do) these new investment alternatives such as cryptocurrencies (supported by the blockchain and so I think without this technology, this would be a bubble) are demonstrating day by day (through investment figures and number of new projects launched) that want to break all the paradigms related to handling FREE currencies only controlled by algorithms with no geopolitical or other interests, but managed by the supply / demand of these.

It is normal that at the beginning, this type of alternative markets create certain skepticism in its operation and application to the world in many people; however, in this case conventional low risk investors such as Buffet (who are used to work with highly recognized company´s stocks that present a positive trend in the long term) are underestimating (until now) the potential of blockchain technology and cryptocurrencies which are totally new and innovative that continue breaking the stereotype of "safe investment" that many people around the world have.

Symbol of some cryptocurrencies

I am almost sure that many investors like Buffett do not want this kind of initiatives to succeed, since the success of blockchain and cryptocurrencies will inevitably cause a lot of capital to be redirected to blockchain and cryptocurrency projects, which would generate In the long term, its traditional investment portfolio will be increasingly limited unless they fit the current trend. Their business is based on being considered as "low risk investments". This "status quo" not only benefits them but also many other investors (reaching very high levels such as politics) since the international legal-economic politics has been made by current economic / financial conditions. Changing all this will only be possible if the positive tendency of the crypto world is self-sustaining over time.

Bubble? Mirage? I do not know yet, people and companies that apply and use the blockchain technology and cryptocurrencies in the best way will be the ones that decide their future. All of them are the ones that give the true value that the market reflects in its numbers.

What do you think?

Link: https://www.cnbc.com/2017/12/08/where-warren-buffett-thinks-you-should-invest-your-money.html