I think they aren't talking about bitcoin when they are talking about bitcoin. They are talking about the cryptocurrency market as a whole. They just don't understand it. I would also go as far as to say that more than 1000 currencies will come to a bad end. Which even sounds ridiculous. Why the heck do we have about 1600 listed currencies?

I personally regard Warren Buffett highly and he has been an inspiration for my investment strategy. However, I don't invest in the companies he invests in these days. Times are changing. However, I think it is good that people like him speak up when it comes to investing in highly volatile markets, so that people understand that if they buy the ICO that hasn't launched yet, they might never again see their money. Just because they don't get all their facts right, doesn't mean that what they are saying is completely wrong. The people who listen to them blindly, are better off not investing into crypto anyway, at this point.

Just my two cents.