At the Daily Journal's all-virtual annual shareholder meeting in Los Angeles, Charlie Munger, vice president of Berkshire Hathaway, said he wished other countries would have followed China's lead by banning bitcoin and other cryptocurrencies "immediately": “I wish he had been banned immediately. I admire the Chinese for banning it ”. Munger then stressed that he was "proud" to have avoided cryptocurrencies all those years.
Warren Buffett's right-hand man, who turned 98 last month, likened cryptocurrencies to "some venereal disease." In his sharpest critique of the new asset class, Munger said he was "below contempt". The billionaire seems to suggest that cryptocurrencies are only useful for extortion, kidnapping and tax evasion. Munger also expressed discontent with the proliferation of altcoins, complaining that people create their own currencies out of envy.
by Alessandro Crea Monday 21 February 2022 15:00