Charlie Munger Reiterates Criticism of Cryptocurrencies
During a recent appearance at Zoom’s Zoomtopia conference, Charlie Munger, the vice chairman of Berkshire Hathaway and Warren Buffett’s right-hand man, once again expressed his disapproval of cryptocurrencies. When asked about his outlook for bitcoin and other digital currencies, Munger called bitcoin “the stupidest investment” he has ever seen and predicted that most cryptocurrency investments will become worthless.
A Long History of Criticism
This is not the first time that Munger has voiced his skepticism towards cryptocurrencies. In the past, he has referred to bitcoin as “rat poison,” compared its trading to “trading turds,” and even called it a “venereal disease.” He has urged people to stay away from crypto and advocated for governments to ban them. Munger has also expressed his regret over the invention of cryptocurrencies, stating that it is “disgusting” and goes against the interests of civilization.
Warren Buffett Shares Similar Views
Munger’s business partner, Warren Buffett, shares a similar skepticism towards bitcoin and other cryptocurrencies. Buffett has called bitcoin “rat poison squared” and compared it to a gambling token. He believes that bitcoin does not produce anything of value and would not be interested in owning it even if it was offered at a low price.
Hot Take: Munger Doubts Crypto’s Future
Charlie Munger continues to criticize cryptocurrencies, particularly bitcoin, stating that it was the worst investment he has ever seen. He predicts that most cryptocurrency investments will eventually become worthless. This aligns with his previous remarks referring to crypto as “rat poison,” “trading turds,” and a “venereal disease.” Warren Buffett, Munger’s business partner, shares similar views, calling bitcoin “rat poison squared” and a gambling token. Both men believe that cryptocurrencies do not produce anything of value and have expressed their regret over the invention of digital currencies.
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