Large-Scale VC Investor Schools Warren Buffet On The Value Of Bitcoin

Fred Wilson, venture capitalist and co-founder of Union Square Capital which has investments in Tumblr, Twitter, Kickstarter, Foursquare and other web 2.0 companies, wrote a sort of open letter response to the latest comments made by Warren Buffet and Charlie Munger, men he considers to be mentors on his AVC blog yesterday.

Instead of attacking or mocking the old money men as he may have easily done for making juvenile comments about Bitcoin and the technology that drives it, which Buffet is on record admitting ignorance of, Wilson tries instead to understand and explain what it is they are missing and the underlying value of Bitcoin.

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