Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has a message for investors considering cryptocurrencies.” Never mess with it,” he stressed, adding that everyone should follow his example and avoid crypto “like an open sewer full of malicious creatures.”
Charlie Munger reaffirmed his anti-crypto stance
Charlie Munger, Warren Buffett’s right-hand man and longtime business partner, hurled more insults at cryptocurrencies in an interview with The Australian Financial Review published Tuesday. Munger previously called bitcoin “rat poison” and said he hated the success ofBTClast year.
Noting that the “crypto boom” was a “public folly,” he told the publication.
I think anyone selling this stuff is delusional or evil. I don’t mess with crypto.
The Berkshire executive continued, ” I have no interest in weakening the world’s national currencies.”
Mr. Munger was then asked what advice he would give to other investors who might be considering investing in cryptocurrencies.” He replied that “complete avoidance is the right policy,” adding.
Never touch it. Never buy. Try to pass it by.
Like Buffett, Munger believes that stocks in companies that are actually generating cash are better investments.” He emphasized that “stocks are only interested in real business.
In response, he explained, “Crypto is an investment in nothingness, and those who are trying to sell investments in nothingness are saying, ‘I have a special kind of nothingness that is more difficult to create.'”
Munger stressed that. ‘I don’t want to buy a piece of nothingness, even if someone says I can’t make more of it: …… I consider it almost insane to buy or trade something like this.” He elaborated.
I just avoid it like an open sewer, full of malicious creatures. I just avoid it altogether and encourage everyone else to follow my example.
Munger has never liked Bitcoin or any other cryptocurrency; in February, he said the government should ban, said BTC should be banned,51 and called it an “STD.” He praised China for banning crypto several times in the past and said he wished cryptocurrencies had never been invented. Last May, he said that bitcoin is “disgusting and against the interests of civilization.”
In May, Munger said, ” I try to avoid things that are stupid and evil and make me look bad compared to someone else – and bitcoin does all three.” He added: “It is stupid because it is still likely to go to zero.” He added.
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