Charlie Munger, a billionaire investor and vice president of the Berkshire Hathaway conglomerate owned by Warren Buffett, did not regret his words when it came to describing his feelings about the cryptocurrency.

At Berkshire Hathwayway’s annual shareholder meeting, which was broadcast live on Saturday, Munger answered investor questions with his billionaire counterpart. While Buffett said he would deliberately sidestep the question of whether the cryptocurrencies were “artificial gold of no value,” Munger answered more candidly, indicating that the questioner was “waving a red flag on the bull,” referring to him.

“Of course I hate the success of Bitcoin and I don’t want a very useful currency for kidnappers, extortionists, etc.,” Munger said. “I also don’t like mixing up some extra billions and billions and billions of dollars for someone who just invented a new financial product out of thin air.”

he added:

“All of this is disgusting and goes against the interests of civilization.”
Buffett admitted that there could be “hundreds of thousands of people watching this bitcoin,” with only two people selling the coin, which makes him reluctant to say anything bad about cryptocurrencies. However, the billionaire investor previously stated that “cryptocurrencies are largely worthless,” and he will never own them himself.

Munger, a 97-year-old man with a net worth of more than $ 2 billion, is also a well-known critic of Bitcoin (BTC), declaring in February that cryptocurrencies are “too volatile to be used as a medium of exchange.” Totally meaningless ” during the Daily Journal’s annual meeting with shareholders in 2018.

Source: CoinTelegraph

LEAVE A REPLY