Charlie Munger, Berkshire Hathaway’s 99-year-old vice president and Warren Buffett’s longtime friend and business partner, said that despite Berkshire Hathaway’s dwindling of its biggest financial holdings, it still follows many major bank stocks. Also, for a long time cryptocurrency increased their criticism.
Munger: “Those Who Don’t Think About Cryptocurrencies Like Me Are Stupid”
bitcoin and Munger, a prominent critic of other cryptocurrencies, continued his attack on digital assets on Wednesday. Munger also described cryptocurrencies with a slang word:
“There is no logical argument against my stance on cryptocurrencies.”
Munger continued his heavy criticism of the crypto industry as follows:
“I think people who oppose my view are stupid.”
Munger added that investors should stay away from people promoting cryptocurrencies and once again said that cryptocurrencies are “worthless”, “crazy”, “ridiculous” and “unspeakable”.
Munger also recently wrote an opinion piece for the Wall Street Journal recommending that the US ban cryptocurrencies.
“Cryptocurrencies are not a currency, they are not a commodity, and they are not a security,” Munger, 99, wrote in The Wall Street Journal.
Munger and his business partner Warren Buffett have long been skeptical of cryptocurrencies and argue that they are not tangible or productive assets.
Munger’s latest comments come at a time when the crypto industry is grappling with problems, from failed projects to liquidity crunch, exacerbated by the collapse of FTX, once one of the world’s largest exchanges.
*Not investment advice.
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