Munger said he wished the US had banned crypto immediately and that he admires the Chinese for banning it Charlie Munger, the partner of Warren Buffe
Munger said he wished the US had banned crypto immediately and that he admires the Chinese for banning it
Charlie Munger, the partner of Warren Buffett and the vice-chair of Buffetts’ conglomerate Berkshire Hathaway (NYSE:BRK), described cryptocurrency as a “venereal disease” in his latest attack on the digital assets, according to the website decrypt.co.
During a Q&A session at the Daily Journal annual meeting in Los Angeles on Wednesday, Munger said: “I certainly didn’t invest in crypto. I’m proud of the fact that I avoided it. It’s like some venereal disease.”
Munger said he does not like Bitcoin because extortionists, kidnappers, tax evaders and terrorists use it, decrypt.co reported.
“It’s beneath contempt,” he said.
In the live-streamed event, Munger said he wished the US had banned crypto immediately and that he admires the Chinese for banning it.
Both Munger and Buffett have been critical about cryptocurrency over the years. In 2018, Buffett described Bitcoin “rat poison squared” and in 2020 he said “cryptocurrencies basically have no value and they don’t produce anything”.
“I don’t have any cryptocurrency and I never will,” he said.
However, on Wednesday, it was reported that Berkshire Hathaway has purchased US$1bn worth of stock in Nubank, a Brazilian fintech bank that focuses on cryptocurrencies like Bitcoin.
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