Berkshire Hathaway’s Charlie Munger Says Bitcoin Is ‘Disgusting And Opposite To Pursuits Of Civilization’ – Berkshire Hathaway (BRK-A)

The inevitable query got here up about Bitcoin (CRYPTO: BTC) throughout right now’s Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B) 2021 shareholders assembly with Warren Buffett and Charlie Munger.

Buffett Dodges: Buffett, chairman of Berkshire Hathaway, stated he hates it when he sees politicians dodge questions, however that he would accomplish that himself on the query of Bitcoin.

“We had a governor one time in Nebraska, a very long time in the past, and he would get a tricky query, . ‘What do you consider property taxes?’ or ‘What ought to we do about faculties?’ and he’d look proper on the particular person, and he’d say, ‘I am all proper on that one!’ and he’d stroll off. Nicely, I am all proper on that one,” Buffett stated earlier than turning it over to Vice Chairman Munger.

Munger Weighs In: “Those that know me nicely are simply waving the pink flag to the bull,” Munger stated. “After all, I hate the Bitcoin success. I do not welcome a foreign money that is so helpful to kidnappers and extortionists. So forth, nor do I like simply shoveling out a couple of additional billions and billions and billions of {dollars} to somebody who simply invented a brand new monetary product out of skinny air. I believe I ought to say modestly that I believe the entire damned growth is disgusting and opposite to the pursuits of civilization, and I am going to go away the criticism to others.” 

To which Buffett responded, “I am all proper on that one!”

Earlier in February, Munger had stated that buying and selling cryptocurrencies is “simply dementia” and that the value of Bitcoin was far too risky to be a mainstream medium of change.

“It is actually type of a man-made substitute for gold, and since I by no means purchase any gold, I by no means purchase any Bitcoin. I like to recommend that different folks comply with my follow,” he stated. 

Bitcoin reached a brand new file excessive of over $63,000 on April 13. 

Value Motion: Bitcoin is up 96.62% year-to-date. Bitcoin is up barely by 1.76% within the final 24 hours at $57,776.

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