http://dealbook.nytimes.com/2013/11/25/render-unto-caesar-but-who-backs-the-bitcoin/Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso. That’s because there are only so many of them.
But bitcoin aspires to be much more than a collectible, or frankly, even gold. It aspires to be a universal electronic currency. On that score, it is unlikely to succeed.
In truth, the best bitcoin can hope for is to be a second-rate version of gold, if that. And Warren Buffett once described gold this way: “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”