I think it's mainly because he's too old to understand the technology and its potential to change the way that people transact and will pose a real threat to the banking industry. But who knows maybe he's afraid like the rest and is masking this fear by portraying his stance to those in the know as "oh I'm just an old man who doesn't understand the tech and its potential."

Six months to a year ago they mocked and they ridiculed (ahem--Jamie Dimon and ilk) but now JMP and others are starting to trade BTC and (try to) get involved in blockchain projects...who am I kidding, they've been trading it ever since it hit $5K then dropped to $3 and then rebounded as JPM covered their short positions and went long (somewhat speculation on my part but their traders did get caught red handed trading BTC right after Dimon said he'd fire any JPM trader who touched BTC). Did he fire those traders? I'm not in a position to make an informed statement on their employment status at JPM but I am making an educated guess--Probably not.

I have much respect for Mr. Buffet and his investment strategies and methods are tried and true. But I think he's completely uninformed when it comes to cryptos....that or he is informed and he's scared just like the rest of the snakes on Wall Street. Not to give snakes a bad name or anything...