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Buffett cautious amid IPO rush

Sometimes you think you’ve seen everything that can possibly happen when it comes to investing and finance.

And then the Winklevoss twins prove you wrong, again.

This time, they’ve suggested that Bitcoins – the virtual would-be currency – could be a national currency one day (http://www.theage.com.au/it-pro/business-it/bitcoin-could-become-a-nations-currency-winklevoss-twins-20130918-hv1rm.html). Yes, the brothers famous for claiming they really were the brains behind the birth of Facebook (Nasdaq: FB) have decided that an online payment method preferred mostly by criminals and paranoid anti-government types might one day carry the head of a sovereign on its obverse.

You know, I could possibly be wrong. But the odds of that are pretty small, with the possible exception that a rogue government might just think the idea is just crazy enough to work.

Yes, I’m looking at you, North Korea.

But let’s face it – the imprimatur of Kim Jong Un would be the exception to prove this particular rule. No-one has ever invoked the North Korean leadership as moral authority – and that’s unlikely to start any time soon.

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Motley Fool contributor Scott Phillips own shares in Berkshire Hathaway.

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