Comments created by Warren Buffet’s help and chair of Berkshire Hathaway have gone infectious agent for their ingenious depiction of cryptocurrency.
Charlie Munger, the traditional chair of Berkshire married woman and Warren Buffet’s help, has no issue with providing his honest thoughts on cryptocurrency: He hates it.
Speaking at a shareholder’s Q&A session at the annual meeting for Los Angeles-based newspaper company Daily Journal Corporation, the 98-year-old investment icon likened crypto to a sexually transmitted sickness.
“I certainly didn’t invest in crypto. I’m proud of the fact that I avoided it. It’s like some venereal disease.”
Munger continuing to specific his contempt for Bitcoin (BTC) and different cryptocurrencies, adding, “I want it had been prohibited immediately… i love the Chinese for forbiddance it. i feel they were right and that we were wrong to permit it.”
Munger and Buffet are not any strangers to criticizing and downplaying the emergence of cryptocurrency. Buffett has antecedently ridiculed Bitcoin for being an quality that “does not produce anything”; he’s known as it “rat poison squared” and aforementioned that it's nothing over a “delusion that draws charlatans.”
Munger’s originative depiction of cryptocurrency doesn't appear to be mirrored within the new investment thesis of county married woman, that is softening abreast of its exposure to cryptocurrency.
In a securities filing late on Monday, county married woman disclosed that it had hyperbolic its exposure to cryptocurrency by buying $1 billion price of Nubank stock, Brazil’s largest fintech bank, that is fashionable among Brazil’s crypto investors.
“The Nubank investment is labeled as Buffett’s means of supporting the fintech/crypto world while not taking back his criticisms of the past,” declared Greg Waisman, co-founder and chief operating officer of crypto wallet service Mercuryo, adding that county is currently backing the “digital currency scheme indirectly.”
( Tom Mitchelhill, Cointelegraph, 2022)