THELOGICALINDIAN - Berkshire Hathaway Vice Chairman Charlie Munger Warren Buffetts righthand man says China did the appropriate affair to ban cryptocurrencies including bitcoin He wishes that cryptocurrencies had never been invented emphasizing that he will not participate in the crypto bang He considers this era alike crazier than the dotcom era
Warren Buffett’s Right Hand Man, Charlie Munger, Wishes Crypto Had Never Been Invented
Berkshire Hathaway Vice Chairman Charlie Munger, generally accepted as Warren Buffett’s right-hand man, talked about cryptocurrency Friday at the Sohn Hearts and Minds, Australia’s arch broker event. The 97-year-old ahead alleged bitcoin “rat poison” and likened cryptocurrency trading to “trading turds.”
Commenting on the accepted advance environment, he said:
Discussing cryptocurrency, Munger said: “I aloof can’t angle accommodating in these batty booms, one way or the other. It seems to be working. Everybody wants to accumulation in.”
However, the Berkshire controlling emphasized that he has “a altered attitude,” elaborating, “I appetite to accomplish my money by affairs bodies things that are acceptable for them, not things that are bad for them.” He added: “Believe me, the bodies who are creating cryptocurrencies are not cerebration about the customer, they are cerebration about themselves.”
Munger stressed: “I’m never activity to buy a cryptocurrency. I ambition they’d never been invented.” He added opined:
Munger was absolute about China, area Berkshire has above investments including car architect BYD. He believes that the U.S. and China could ability an “acceptable relationship.” Noting that “Australia, with its abysmal captivation in China, can be in a effective position,” he suggested, “Australia can animate both the United States and China to be added reasonable.”
The Berkshire administrator fabricated a few added comments apropos bitcoin and cryptocurrency this year. He opined in May: “I should say abundantly that the accomplished abuse development [crypto] is disgusting and adverse to the absorption of civilization.”
In February, he brash investors to never buy bitcoin. “It’s absolutely affectionate of an bogus acting for gold. And back I never buy any gold, I never buy any bitcoin, and I acclaim added bodies chase my practice,” he said.
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