So, do you want to own the water or the power dam? Buffett's point is that people are buying water (i.e. bitcoin) at exhorbitant prices.

The distributed ledger technology is great, but it needs to be harnessed into a repeatable per-transaction money-maker to be useful. Anyone can over-pay for a bitcoin and hope they can sell it to someone fearing that they're missing out. The problem is that the FOMO crowd is thinning out.