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Marc Andreessen Refers To Warren Buffett As An Old White Man Who Doesn't Get New Technology

Rob WileMar 26, 2014, 01:35 IST

REUTERS/Jo Yong-HakBerkshire Hathaway Inc's Warren Buffett (C) walks during a visit of TaeguTec in Daegu, about 300 km (189 miles) southeast of Seoul, October 25, 2007.Recently, Warren Buffett called Bitcoin "a mirage" and warned investors to stay away.

Today, at the CoinSummit in San Francisco, executives at Andreessen Horowitz, which has invested millions in Bitcoin and plans to invest "hundreds of millions more," responded.

First, Marc Andreessen said Buffett's remarks were an example of "old white men crapping on new technology they don't understand."

Then, Balaji Srinivasan claimed Bitcoin had outperformed Berkshire Hathaway "by a lot."

This is all per Marketwatch's Saumya Vaishampayan live-blog of the event.

Bitcoin prices stand at $584.

Disclosure: Marc Andreessen, co-founder of Andreessen Horowitz, is an investor in Business Insider.