Investing Veteran Charlie Munger Predicts Most Crypto Investments Will Go to Zero
Charlie Munger, an investing veteran and vice chairman of Berkshire Hathaway, has expressed his belief that most digital assets, including Bitcoin (BTC), will eventually become worthless. Speaking at the Zoomtopia conference, Munger criticized the idea of investing in cryptocurrencies, calling it “stupid.” He stated that Bitcoin was the “stupidest investment” he had ever seen and that the majority of such investments would go to zero.
Munger has been a long-time skeptic of Bitcoin and other digital assets. In 2021, he stated that he wished cryptocurrencies had never been invented and accused those investing in crypto of being self-interested rather than customer-focused.
Munger Doubts the Hype Around Artificial Intelligence
In addition to his criticisms of crypto, Munger also expressed skepticism about the hype surrounding artificial intelligence (AI). Despite acknowledging significant technological advancements in AI, he believes that the attention it receives is excessive. Munger stated that while AI has its uses, he remains skeptical and prefers traditional intelligence.
This is not the first time Munger has voiced his doubts about AI, as he expressed similar sentiments at Berkshire Hathaway’s 2023 shareholder meeting.
Hot Take: Charlie Munger’s Negative Stance on Crypto and AI
Charlie Munger, vice chairman of Berkshire Hathaway and a respected investing veteran, continues to hold a negative view on cryptocurrencies and artificial intelligence (AI). Munger believes that most digital assets, including Bitcoin, will eventually become worthless. He also expresses skepticism about the hype surrounding AI despite acknowledging its technological advancements. While Munger’s views may differ from those who are bullish on crypto and AI, it is essential to consider multiple perspectives when making investment decisions in these rapidly evolving fields.
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