Warren Buffett’s right-hand man, Charlie Munger, said he hates the Bitcoin success and Buffett agreed with that
Bitcoin dramatic rise in price over the past few days has prompted many cryptocurrency critics to quickly revoke their previous criticisms. However, it seems that Berkshire Hathaway CEO Warren Buffett and his right-hand man, Charlie Munger, are not in this case.
Warren Buffett’s right-hand man, Charlie Munger and the billionaire Warren Buffett
Warren Buffett agrees with the opinion that Bitcoin is “disgusting”
Munger shared that he doesn’t approve of Bitcoin’s success when it comes to it during Berkshire’s annual shareholder meeting on May 1, according to Munger, Bitcoin’s overall development is disgusting and goes against the interests of civilization.
“Of course, I hate the Bitcoin success. I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization, and I’ll leave the criticism to others.”
Meanwhile, Buffet dodged a question about Bitcoin, only approving Munger’s harsh statement:
“I’m alright on that one.”
Previously, Buffett called Bitcoin a rat killer in May 2018. He has also criticized Bitcoin quite a bit over the years.
The comments have certainly attracted strong criticism from the crypto community. In it, crypto economist and analyst Alex Krüger tweeted that hate is irrational when it comes to money management:
“Munger’s approach to coping with Bitcoin’s success is hate. Can’t be rational when hate is involved. Money managers that don’t adapt to technological changes have a hard time outperforming.”
Munger tends to be very loud about his disdain for cryptocurrencies as well as speculative stocks. Prior to that, the 97-year-old billionaire compared Bitcoin and Tesla as a louse and fugitive at the Daily Journal Corporation’s annual meeting in February.
You can see the BTC price here.
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