Berkshire Vice Chair Charlie Munger Warns Most Crypto Investments Will Go to Zero

Warren Buffett’s right-hand antheral and the vice president of Berkshire Hathaway, Charlie Munger, has expressed his content that the bulk of cryptocurrency investments volition go worthless. Regarding bitcoin, the enforcement opined: “That was the stupidest concern I ever saw.”

Charlie Munger Continues to Slam Crypto

Berkshire Hathaway Vice Chairman Charlie Munger expressed disapproval toward cryptocurrencies erstwhile again during an quality astatine Zoom’s Zoomtopia league connected Thursday.

“Don’t get maine started connected bitcoins. That was the stupidest concern I ever saw,” Munger exclaimed erstwhile helium was asked astir his outlook for bitcoin and different cryptocurrencies. He besides predicted:

Most of those investments are going to zero.

The Berkshire enforcement has agelong been a vocal professional of cryptocurrencies. He antecedently called bitcoin “rat poison” and likened its trading to “trading turds.” In February, helium said: “It’s conscionable ridiculous that anybody would bargain this worldly … It’s conscionable unspeakable, it’s an implicit horror, and I’m ashamed of my state that truthful galore radical judge successful this benignant of crap, and the authorities allows it to exist.”

In July past year, helium said helium won’t interaction crypto, advising everybody to “avoid it arsenic if it were an open sewer afloat of malicious organisms.” He antecedently likened crypto to “a venereal disease” and advocated for governments to ban them. Moreover, helium wished crypto had “never been invented,” stating: “The full damn improvement is disgusting and contrary to the involvement of civilization.”

Like Munger, Buffett is besides skeptical of bitcoin and different cryptocurrencies. After calling BTC “rat poison squared,” the Berkshire president and CEO compared bitcoin to a “gambling token.” In May past year, helium said BTC “doesn’t nutrient anything,” emphasizing: “If you told maine you ain each of the bitcoin successful the satellite and you offered it to maine for $25, I wouldn’t instrumentality it due to the fact that what would I bash with it? I’d person to merchantability it backmost to you 1 mode oregon another. It isn’t going to bash anything.”

What bash you deliberation astir Berkshire Hathaway Vice Chair Charlie Munger’s presumption of bitcoin and different cryptocurrencies? Let america cognize successful the comments conception below.