• Charlie Munger, the Vice Chairman of Berkshire Hathaway, has been vocal about his disdain for crypto for quite some time.
• He believes traditional currencies have helped turn man “from a successful ape to a successful human” and he calls cryptocurrency “crap”.
• Despite the overall market capitalization of cryptocurrencies being approximately $1.07 trillion, Munger continues to express his hatred for crypto.
Berkshire Hathaway Vice Chairman Charlie Munger Hates Crypto
Charlie Munger, the Vice Chairman of Berkshire Hathaway, has been vocal about his disdain for crypto for quite some time. In May 2021 at Berkshire’s annual shareholder meeting, he famously stated that Bitcoin is “disgusting” and “contrary to the interests of civilization.”
Munger’s Opinion On Crypto
In his opinion, traditional currencies have helped turn man “from a successful ape to a successful human,” he said during the Daily Journal’s shareholder meeting in Los Angeles on Wednesday. Is Crypto A Piece Of Crap? Munger emphasized that he’s not proud of his country for allowing this “crap”. “Well, I call it crypto sh*t. It’s worthless, it’s no good, it’s crazy, it’ll do nothing but harm, it’s antisocial to allow it,” Munger said during a live-streamed interview for the Daily Journal.
China Banning Cryptocurrency Transactions
Munger has also been criticized in the past for complimenting the Chinese government; in September 2021 they banned all cryptocurrency transactions due to their concerns with its value.
Crypto Market Capitalization
At the time of writing, the overall market capitalization of cryptocurrencies was roughly $1.07 trillion – down from November 2021 when it had surpassed $2.7 trillion – yet despite this change in value there are still no signs that Munger will let up on his attacks against crypto any time soon.
At the time of writing, Bitcoin was trading at $24 575 which is an increase from seven days ago when it was 7% lower than what is currently recorded by Coingecko data.
It seems clear that despite numerous warning signs showing us why we should be cautious with our investments into cryptocurrencies or other digital assets such as Bitcoin – Charlie Munger remains steadfast in his views against them and shows no signs whatsoever that he may ever come around and accept this form of currency anytime soon