Munger, Buffett associate, says he hates Bitcoin

The vice chairman of Berkshire Hathaway’s board, Charlie Munger, said he hates Bitcoin’s success. At the company’s annual meeting he also called the first cryptocurrency ‘a financial asset invented out of thin air’.

“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.”

“I’m okay on that one,” Warren Buffett adds. #YFBuffett pic.twitter.com/vfmEBCt4M4

— Yahoo Finance (@YahooFinance) May 1, 2021

“I consider all this damned development to be disgusting and contrary to the interests of civilization,” Munger said.

He also added that he believes the currency is useful for thieves and extortionists.

Warren Buffett refrained from criticizing Bitcoin due to hundreds of thousands of viewers owning digital gold.

“We have a choice: make 400,000 people unhappy and angry at us or make two people happy. It’s just a stupid equation,” the billionaire said.

Earlier, Tron Foundation CEO Justin Sun paid a record $4.5 million for a charity dinner with Buffett in 2020, where he gifted him 1 BTC. Soon the legendary investor again stated the uselessness of cryptocurrencies, but assessed the meeting positively.

In 2018 Munger called Bitcoin «a poisonous poison» and urged governments to «crush it» through regulation.

In 2019, the 95-year-old top executive compared cryptocurrency investors to followers of Judas.

In late February 2021, Munger stated that Berkshire Hathaway does not plan to buy digital gold due to the asset’s high volatility.

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