Things happen when you listen to the lessons of Buffett and Munger but don't understand them. Bitcoin is technology; it's a platform and a global network. Bitcoin is a product that has value because of its unique characteristics. It is vastly different from gold, even if it embodies some of gold's most compelling features, and it functions as a means of exchange, just as the USD did. This allows for the exchange of earnings assets based on it. When you buy bitcoin, you are purchasing a productive asset, just as past value investors did when they bought USD.