Berkshire’s Charlie Munger Says It’s ‘Ridiculous’ Anyone Will Buy Crypto – ‘It’s An Absolute Horror’
Charlie Munger, Vice Chairman of Berkshire Hathaway, shared his views through an interview which he expressed against crypto currency and its supporters in a live stream during the Daily Journal’s annual shareholders meeting and critical medium for crypto currency. Used statements for and against cryptocurrency. According to the full report, the Wall Street General recently opined that all cryptocurrency services should definitely be banned and it is necessary. The 99-year-old executive insists that there is no rational evidence against his position to ban cryptocurrencies and that he is absolutely right in his stand. He said that according to him people who are opposing his position and his comments are certainly idiots… It is a farcical matter that anyone would want to buy this item and invest in it. Giving an example, he said that hardly some people on earth can think that digital currency has tried and worked better than other currencies for mankind. He elaborates that it was “absolutely necessary for man to turn into a modern successful man and human civilization because he enabled all these convenient exchanges”. I can definitely say that we are going in the wrong direction and that’s why if someone says that I am going to create something that is capable of changing national currencies then he is doing stupid things . In a decidedly straightforward case, he commented on cryptocurrencies, making statements against it and calling it a deadly plague. He went on to say that it is very dangerous and of course the government was completely wrong to allow it and here the government should try to rectify its mistake and take concrete steps against it. “I certainly don’t feel proud at all for allowing this nonsense in my country because it’s a waste and not good, it’s weak, it’s a drain on people’s money and it’s a crazy trend item,” he said. Allowing it to be worthless is fraudulent and has no definite value and at the same time does not hold any valuable asset or security.
The Berkshire executive continues that the person who made the right decision on this is definitely the Chinese leader because he looked at it and where
‘Not in my China’, and BOOM… There is no crypto currency in China and he is absolutely right and we are absolutely wrong while he believes that we need to be strong in arguing both for and against a subject should remain, but the vice chairman says that crypto is an exception. Certainly whenever you are thinking to invest in each other you are totally wrong and to correct this mistake you should avoid investing in it and intelligent people are the ones who put their assets and their investments in the right place. are not in some useless place and that is why we should take care of all these things. He emphasized this by saying that this is simply an inexplicable logic and it is absolutely scary and I am ashamed of my country that so many people believe in this nonsense and support it to exist are or do not ignore it completely. Munger is known from his criticism that he is not interested in crypto currency at all and he is only fond of spewing venom in the subject of crypto currency. An exception to his argument is that cryptocurrencies do not have any permanent value.
It is not that this is the first time he has criticized it as in the past he has called bitcoin “rat poison” several times and compared crypto trading to “trading turds” He has also said that he wishes that cryptocurrencies had never been invented and openly praised China for banning cryptocurrencies. He has also referred to bitcoin by various names, including “disgusting and contrary to the interests of civilization” and calling crypto a “sexual disease” when he urged the government to ban bitcoin, according to tweets from last February. . Additionally, in July he explicitly advised everyone to avoid crypto, calling it an “open sewer full of malicious creatures”.
