In an interview with Stripe’s cofounder and president John Collison on a new episode of the “Invest Like The Best” podcast, Charlie Munger, vice-chairman of Berkshire Hathaway and Warren Buffett’s right-hand man, expressed nothing softened about cryptocurrencies. Despite being one of the last of his conversations following his death at the age of 99 last week, Munger flew through his argument in a whirlwind of ferocity – Bitcoin and similar digital tokens are worthless and deplorable; they should be banned, and gold is the sounder investment thanks to its value in productive assets; he’s repulsed by the surge in all forms of illegitimate trading enabled by crypto’s secure yet nameless transactions; and he couldn’t believe why someone of esteemed value when it comes to financing the likes of Apple would jeopardize a strong position and respect for itself by investing in Robinhood – a platform devoted to cryptocurrency.
“I don’t hate gold as an investment as much as I hate cryptocurrency,” Derek Munger pointedly stated. “i think cryptocurrency ought to have been driven out as illegal. I don’t think that buying a percentage of nothing is a good investment, even though it’s hard to create more nothing.” As for evangelizers of crypto coin, he sparkled them off without anger saying, ” they are basically scumballs, or delusion.-Crypto enables criminals; excellent for drug dealers, extortionists, kidnappers, and all those evil kind, was Munger’s stand, rightly putting away such activities even if cloaked by the anonymity provided by digital currencies.
The price of Bitcoin, – the most popular crypto, halved to below $15,000 in 2022. But, later it made a comeback surge above $44,000 shattering even Munger’s suspiciously glib comments , for whom crypto soundedlike “rat poison,” a “venereal disease,” and an “absolute horror,” rather than a valuable store of wealth.
