Berkshire Hathaway vice president Charlie Munger described Bitcoin as “totally disgusting”
Speaking at the annual assembly, Charlie Munger, who is 94, revealed that he is one of the biggest opponents of a decentralized currency over which no one has control.
Asked what he described as “Bitcoin frenzy”, Munger’s answer was that the government should punish people for using this technology.
“From time to time, I expect the world to do stupid things because everyone wants easy money,” he told the shareholders at the meeting.
Then he added:
“It’s just disgusting that people are buying something like that. Our approach to this is inappropriate ”
In addition to describing the cryptocurrency as “totally disgusting”, Munger went further than even Berkshire CEO Warren Buffett, who in January admitted that he “knew nothing about this technology” but nevertheless expressed his opinion without understanding what he was talking about.
Charlie Munger adds:
“I can say with certainty that this path leads to a bad ending”, good digital is not controlled by banks or governments, ordinary people earn a lot of money, it’s crazy, it should not be like that!
It is noteworthy that JPMorgan’s general manager, Jamie Dimon, who had previously also criticized Bitcoin, now regrets that he called it a fraud.
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