NO COUNTRY FOR OLD MEN
1. Buffett and Dimon don’t understand—or don’t need to understand—crypto.
They are leaders of the old financial system.
Crypto is a new financial system that threatens their business model.
Their criticism isn’t objective — it’s a conflict of interest.
2. “Bitcoin produces nothing.”
Neither does gold.
Nor land that isn’t rented.
Nor art.
Nor collectibles.
Nor any store-of-value asset.
Bitcoin isn’t supposed to generate cash flow —
it’s digital scarcity, a hard-money alternative.
3. Bitcoin’s value is NOT “hoping the next guy pays more.”
Its value comes from:
•Fixed 21M supply → mathematically enforced scarcity
•Decentralization → no government can seize or print more
•Global network security powered by mining
•Increasing institutional adoption
It’s not a “greater fool” game — it’s a digital commodity.
4. High volatility doesn’t equal lack of value.
Every disruptive technology is volatile early on:
•Amazon dropped 95%
•Tesla dropped 70% multiple times
•Dotcom crashed before the internet became essential
Volatility isn’t a flaw — it’s a sign of early-stage adoption.
5. Jamie Dimon asking “How do you know it stops at 21M?”
proves he doesn’t understand Bitcoin.
Bitcoin cannot change its supply without:
•~95% miner consensus
•Global node consensus
•Community consensus
That’s practically impossible.
If the CEO of JPM doesn’t know this, that says more about him than about Bitcoin.
6. While they criticize crypto publicly, financial giants are buying Bitcoin privately.
•BlackRock
•Fidelity
•Ark Invest
•MicroStrategy
•Major banks quietly offering BTC services
Traditional finance is accumulating while its figureheads are dismissing it.
Buffett and Dimon aren’t wrong — they’re just speaking from a world that Bitcoin is replacing.
Crypto isn’t trying to upgrade the old system.
It’s building a parallel one that doesn’t rely on banks.
Of course the old guard is uncomfortable.
