Billionaire investor Charlie Munger hates bitcoin (BTC). That is what the right-hand man of investment legend Warren Buffett said during a Berkshire Hathaway shareholders meeting on May 1:
“Of course I hate the Bitcoin success,” Charlie Munger says. “I should say modestly that I think whole damn development is disgusting and contrary to the interests of civilization, and I’ll leave the criticism to others.”
– Yahoo Finance (@YahooFinance) May 1, 2021
“Of course I hate bitcoin’s success. I don’t welcome currency that is so useful to kidnappers and extortionists and so on.
I also don’t like to just shove a few extra billions of dollars to someone who just invented a new financial product out of the blue.
So I guess I have to say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization. ”
According to the 97-year-old billionaire. Buffett then quickly proclaims that he agrees. That is not entirely unexpected, Buffett mentioned bitcoin a few years ago “Rat poison squared.”
However, it seems that both gentlemen still haven’t bothered to actually read about the cryptocurrency. Munger’s comments are, of course, not well received by the bitcoin community. Thus says Anthony ‘Pomp’ Pompliano:
“He owns banks that launder billions a year and have been charged with criminal charges. Do me a favor. ”
Bitcoin may conflict with Charlie Munger’s idea of civilization. But for many less privileged than him, a neutral, open-source, consent-less, censorship, and confiscation-proof financial system beyond the control of corporations and governments is far more civilized than the status quo. ”
Berkshire Hathaway is a major shareholder of Coca-Cola and Munger defended this position by saying that criticism of sugar is immature and stupid. Therefore says Neeraj K. Agrawal from Coin Center as follows:
“Hi, I made all my money selling sugar to the children of the world. I’m here to tell you about moral investing. ”