Warren Buffett’s right-hand man calls for crypto to be banned, compares it to venereal disease
Charlie Munger, Warren Buffett’s right-hand man, remains unabashedly critical of cryptocurrencies, comparing them to “a venereal disease”
Berkshire Hathaway vice chairman Charlie Munger said he wanted other countries to follow China’s lead by banning Bitcoin and other cryptocurrencies “immediately” during the Daily Journal’s fully virtual day. annual shareholder meeting in Los Angeles:
I wish it was banned immediately. I admire the Chinese for forbidding it.
He emphasized that he was “proud” of avoiding cryptocurrencies all these years.
Warren Buffett’s right-hand man, who turned 98 last month, likened crypto to “a venereal disease.” In his most scathing critique of the new asset class yet, Munger said it was “under contempt.”
Last February, Munger compared Bitcoin to a “louse”.
The billionaire seems to be suggesting that cryptocurrencies are only useful for extortion, kidnapping and tax evasion.
Munger also expressed his dismay at the proliferation of altcoins and complained about people creating their own currencies out of jealousy.
Earlier this week, Berkshire Hathaway invested a whopping $1 billion in Brazilian digital bank Nubank, whose investment unit lets users put money into cryptocurrency-related exchange-traded funds (ETFs).