Charlie Munger, the vice chairman of Berkshire Hathaway, who is Warren Buffett’s right-hand man, said he hates the success of Bitcoin. Munger said: “I don’t welcome currencies that are useful to kidnappers and blackmailers.” On the other hand, Buffett avoided questions about Bitcoin because he didn’t want to frustrate large investors who have used this cryptocurrency for a long time. .

Charlie Munger hates the success of Bitcoin

At Berkshire Hathaway’s annual shareholder meeting on Saturday, Vice Chairman Charlie Munger commented on Bitcoin. The 97-year-old said in the question and answer session:

Of course, I hate the success of Bitcoin. I do not welcome currency that is useful to kidnappers and extortionists.

Munger is often referred to as Warren Buffett’s right-hand man, and he added that he also doesn’t like “redirecting some of the excess billions and billions of dollars to people who have just invented new financial products out of thin air.” “

Berkshire Hathaway CEO Warren Buffett (Warren Buffett, left) and Vice Chairman Charlie Munger (Charlie Munger) at the company’s shareholders meeting on Saturday. Source: Berkshire Hathaway.

Berkshire’s billionaire vice chairman continued:

I should say modestly that the whole damn development is disgusting and runs counter to the interests of civilization, and I will leave the criticism to others.

After Munger expressed his views on Bitcoin, Berkshire CEO Warren Buffett quickly added: “I agree with this.”

“Oracle of Omaha” avoided answering the Bitcoin question earlier, stressing that he did not want to comment directly on cryptocurrencies.

Buffett said: “We may have thousands of people watching Bitcoin with Bitcoin, and we may have two people who are very short.”

Therefore, we can choose to make 400,000 people angry and unhappy with us, or make two people happy. This is just a stupid equation.

Munger has been a Bitcoin critic for a long time. “This is indeed a man-made gold substitute. And since I never buy any gold, I never buy any Bitcoin. I recommend that others follow my approach,” he said in February. “Bitcoin reminds me of Oscar Wilde’s remarks about fox hunting. He said this is an unspeakable pursuit.” The vice chairman of Berkshire Hathaway previously referred to Bitcoin as a “rat Medicine” and compare its transaction to “trading feces.” Buffett later called this cryptocurrency “rat poison square.”

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What do you think of Charlie Munger’s evaluation of Bitcoin? Let us know in the comments section below.

Picture Credits: Shutterstock, Pixabay, Wiki Commons, Berkshire Hathaway

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