Berkshire Hathaway Vice Chairman Charles Munger in an interview Australian Financial Review again criticized digital assets. He stated that he would “never touch” any of them.
The 98-year-old billionaire noted that he was not interested in undermining national currencies. Munger urged never to invest in a new asset class. In his opinion, the only correct approach to this “mass stupidity” is its “total avoidance.”
“I think anyone who sells these things is either misguided or evil. […] Cryptocurrencies are an investment in nothing, and the guy who is trying to sell you an investment in nothing says: “I have a special kind of nothing that is difficult to make more of,” said Warren Buffett’s associate.
Munger added that the best investment would be to buy shares in companies that are “truly interested in the real business.”
At the time of writing, capitalization of Berkshire Hathaway exceeds $612 billion. It is the seventh largest corporation in the world.
Earlier, the vice chairman of the board of directors of Berkshire Hathaway compared Tesla and bitcoin to “lice and fleas”, and also questioned the ability of digital gold to “become the global means of payment.”
In December 2021, Munger said that the Chinese authorities made the right decision by banning cryptocurrencies and related activities.
Recall that in February 2022, the billionaire compared digital assets with a “venereal disease”.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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Berkshire Hathaway Vice Chairman Charles Munger in an interview Australian Financial Review again criticized digital assets. He stated that he would “never touch” any of them.
The 98-year-old billionaire noted that he was not interested in undermining national currencies. Munger urged never to invest in a new asset class. In his opinion, the only correct approach to this “mass stupidity” is its “total avoidance.”
“I think anyone who sells these things is either misguided or evil. […] Cryptocurrencies are an investment in nothing, and the guy who is trying to sell you an investment in nothing says: “I have a special kind of nothing that is difficult to make more of,” said Warren Buffett’s associate.
Munger added that the best investment would be to buy shares in companies that are “truly interested in the real business.”
At the time of writing, capitalization of Berkshire Hathaway exceeds $612 billion. It is the seventh largest corporation in the world.
Earlier, the vice chairman of the board of directors of Berkshire Hathaway compared Tesla and bitcoin to “lice and fleas”, and also questioned the ability of digital gold to “become the global means of payment.”
In December 2021, Munger said that the Chinese authorities made the right decision by banning cryptocurrencies and related activities.
Recall that in February 2022, the billionaire compared digital assets with a “venereal disease”.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
