Why does Warren Buffet really hate crypto?

Warren, and even more so Charlie Munger appear a lot on this subreddit with their infamously negative takes on crypto. These guys are immensely respected in traditional finance circles for their high average year-on-year returns, therefore their famous assertion that crypto is "rat poison" got massive attention.

The most common reaction is that these guys are ancient - past being able to absorb new concepts and therefore irrelevant to the debate. Relics of a bygone age.

There are legitimate criticisms of crypto though. I don't subscribe to them personally, but if you lean authoritarian and believe society needs to be tightly controlled, I can see why a faceless, borderline-uncontrollable money system (hi monero guys, look forward to your comments on this point), would be at odds with your value system.

So my question is this - do you think Warren and Charlie don't understand crypto? Do you think they understand it well enough that they're confortable dismissing it? Or do you think they understand crypto very well, think it poses a genuine threat to law and order and want to discourage it as best they can?

I've discounted the last explanation - that they're simply only interested in amassing more wealth, and bitcoin doesn't fit their strategy. Personally I think guys like this, Bill Gates etc have basically won capitalism and their goals aren't money oriented anymore. Feel free to disagree though.