During a Q&A session at the Daily Journal annual meeting in Los Angeles yesterday, Warren Buffett partner Charlie Munger continued his verbal attacks on crypto. Though, this time likening the digital assets to a virus. Not COVID or the flu.
When the conversation turned to crypto, Munger didn’t mince words, saying, “I certainly didn’t invest in crypto. I’m proud of the fact that I avoided it. It’s like some venereal disease.”
Further, Munger went on to list why he doesn’t like Bitcoin. He included extortionists, kidnappers, tax evaders, and terrorists using it. “It’s beneath contempt,” he said.
Speaking of Munger, he is a 98-year-old vice-chairman of Berkshire Hathaway. It is basically the multinational conglomerate run by famed business magnate, investor, philanthropist, and fellow crypto critic Warren Buffett. He explained that he’s happily set in his ways.
He further added that:
“I have all kinds of things I’m not comfortable with,” he said. “I think an old guy is entitled to invest where he wants to invest.”
Moreover, Munger added during the live-streamed event, he added that he wished the United States had banned crypto immediately. He also added that he admires the Chinese for banning it.
Both Buffett and Mungar have had harsh words for cryptocurrency. Even in 2018, Buffet famously called Bitcoin “rat poison squared.”
In addition, during an interview last May, Munger also expresses his own Contempt for bitcoin.
