{"id":37028,"date":"2021-02-25T15:10:06","date_gmt":"2021-02-25T13:10:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37028"},"modified":"2025-08-29T09:25:50","modified_gmt":"2025-08-29T06:25:50","slug":"berkshire-hathaway-rules-out-investing-in-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/berkshire-hathaway-rules-out-investing-in-bitcoin\/","title":{"rendered":"Berkshire Hathaway rules out investing in bitcoin"},"content":{"rendered":"<p>Vice Chairman of Berkshire Hathaway&#8217;s board, Charlie Munger, said the company would not buy bitcoin because of its high volatility.<\/p>\n<p><!--more--><\/p>\n<p>During an interview at Daily Journal Corporation&#8217;s annual shareholders&#8217; meeting, the top executive was asked what constitutes a bigger folly: Tesla&#8217;s $1 trillion market capitalisation or digital gold at $50,000.<\/p>\n<blockquote>\n<p>&#8220;I can&#8217;t determine which is worse between a flea and a louse,&#8221; Munger replied, alluding to the writer Samuel Johnson.<\/p>\n<\/blockquote>\n<p><iframe loading='lazy' src='https:\/\/www.youtube.com\/embed\/Pp4CvjNw-9Y' width='560' height='315' frameborder='0' allowfullscreen='allowfullscreen'><\/iframe><br \/>\nMunger called the banking system &#8220;a great contribution to humanity&#8221; and questioned Bitcoin&#8217;s ability to become a global means of payment.<\/p>\n<blockquote>\n<p>&#8220;It&#8217;s too volatile to serve as a means of payment, and it&#8217;s an artificial substitute for gold. Since I don&#8217;t buy gold, I will never buy Bitcoin. No, we won&#8217;t follow Tesla,&#8221; the executive said.<\/p>\n<\/blockquote>\n<p>Earlier, Justin Sun, the CEO of the Tron Foundation, paid a record $4.5 million for a charity dinner with Warren Buffett in 2020, at which he gave him 1 BTC. The legendary investor later reiterated his view that cryptocurrencies are worthless but said he valued the meeting.<\/p>\n<p>Back in 2018, Munger called Bitcoin &#8220;a toxic poison&#8221; and urged governments to &#8220;crush it&#8221; through regulation.<\/p>\n<p>In 2019, the 95-year-old top executive compared cryptocurrency investors to <a href=\"https:\/\/forklog.com\/en\/news\/charlie-munger-criticizes-cryptocurrency-investors-as-followers-of-judas\">followers of Judas<\/a>.<\/p>\n<p>Subscribe to ForkLog News on Telegram: <a href='https:\/\/t.me\/forklogfeed' target='_blank' rel='nofollow noopener'>ForkLog Feed<\/a> \u2014 the full news feed, <a href='https:\/\/telegram.me\/forklog' target='_blank' rel='nofollow noopener'>ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vice Chairman of Berkshire Hathaway&#8217;s board, Charlie Munger, said that Warren Buffett&#8217;s company does not plan to buy the first cryptocurrency due to the asset&#8217;s high volatility.<\/p>\n","protected":false},"author":1,"featured_media":37029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1139,1138,27,1542],"class_list":["post-37028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-charlie-munger","tag-opinions","tag-russia","tag-warren-buffett"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=37028"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37028\/revisions"}],"predecessor-version":[{"id":37030,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37028\/revisions\/37030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/37029"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=37028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=37028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=37028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}