Digital Assets: Berkshire Hathaway’s Charlie Munger Delivers Fresh Diatribe Against Crypto
Munger had choice adjectives for crypto, including “unspeakable,” “absolute horror,” and “s***.”
Charlie Munger, the Vice Chairman of Berkshire Hathaway (NYSE: BRK.A), has referred to people who oppose banning cryptocurrencies as “idiots” and said that anyone buying crypto is “ridiculous.” He was speaking during a live-streamed interview with CNBC at the Daily Journal’s annual shareholders meeting.
In an interview where he spared no punches at crypto, he said he was not proud of his country “for allowing this crap.” (Bitcoin.com)
He compared replacing national currencies with crypto to replacing air, saying it was “massively stupid.”
Munger also reiterated his recent opinion piece in the Wall Street Journal calling for the banning of cryptocurrencies, saying there is no rational argument against his position. “A cryptocurrency is not a currency, not a commodity, and not a security,” he wrote. “Instead, it’s a gambling contract with a nearly 100% edge for the house.”
He also praised the Chinese leader for his decision to ban crypto in China, stating that he was right and we were wrong.
Munger concluded that crypto is “awful,” a “horror,” and an “absolute crazy, stupid gambling” with house odds for people on the other side, and it should be avoided.
Related Story: Charlie Munger Shreds Bitcoin
Image Credit: Wikimedia Commons
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