05-02-2021, 06:40 PM
Charlie Munger calls bitcoin ‘disgusting and contrary to the interests of civilization’
- Berkshire Hathaway Vice Chairman Charlie Munger called bitcoin “disgusting and contrary to the interests of civilization.”
- “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air,” he said.
- The 97-year-old Munger has long criticized bitcoin for its extreme volatility and a lack of regulation.
![[Image: 106877015-1619899401300mungeralone-jpg?v...=740&h=416]](https://image.cnbcfm.com/api/v1/image/106877015-1619899401300mungeralone-jpg?v=1619899428&w=740&h=416)
Berkshire Hathaway Vice Chairman Charlie Munger’s distain toward bitcoin has only intensified amid the digital asset’s record run this year.
“Of course I hate the bitcoin success,” the 97-year-old Munger said during a Q&A session at Berkshire’s annual shareholder meeting Saturday. “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.”
“I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization,” said Munger, a legendary investor in his own right.
- More -
“Of course I hate the bitcoin success,” the 97-year-old Munger said during a Q&A session at Berkshire’s annual shareholder meeting Saturday. “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.”
“I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization,” said Munger, a legendary investor in his own right.
- More -