“I certainly haven’t invested in cryptocurrencies. I’m proud to have avoided it. It’s like a venereal disease. » – No, it’s about what your mother-in-law said about you. But indeed of those held by Charlie Munger against cryptocurrencies and especially Bitcoin. During a question-and-answer session, annual meeting of the Daily Journal in Los Angles. Truth be told, this animosity is hardly surprising on the part of Warren Buffet’s right-hand man, who himself has already expressed his negative opinion on cryptocurrencies. A few years ago, on the American channel CNBC.
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One thing is certain, the former vice president of Bershire Hathaway, does not mince his words when it comes to talking about Bitcoin and cryptocurrencies. But Charlie Munger’s intentions against Bitcoin are just as belligerent. Because he would have liked cryptocurrencies and Bitcoin to be purely and simply banned from American territory and welcomes the decision of the Chinese government.
“I wish it had been banned immediately… I admire the Chinese for banning it. I think they were right and we were wrong to allow it. »
Charlie Munger
The rest of the interview was of the same ilk and Warren Buffet’s right-hand man even gave us the starter pack usual, when someone asked him the reasons why he doesn’t like bitcoin (BTC).
One of these reasons is that it would, according to him, be used by:
- The extortionists
- Abductors
- tax evaders
- And of course the terrorists
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With bitcoin, The risk comes from not knowing what you are doing. »
As you can imagine, these remarks did not fail to make react the cryptosphere American. And for example, the independent journalist CR1337 wanted to temper the comments of the person concerned with his community. By indicating that, by his age, Charlie Munger is probably not the most knowledgeable person to talk about cryptocurrencies and blockchains.
“When Munger was born in 1924…..Lenin died..the Ottoman Empire ended..Disney created the first cartoon..IBM was founded in New York State..US President aired a radio show the first time. But yeah, let’s keep listening to him talk about Bitcoin”
Source: twitter @CR1337
We can therefore assume that this animosity is essentially fueled by a lack of knowledge of the subject. And of what one might assume to be, a hint of bad faith, when it comes to understanding the value of Bitcoin Charlie Munger explains:
“ I also don’t like just giving a few extra billions and billions of dollars to someone who just invented a new financial product from scratch. »
This is obviously not the first, nor the last time that warren buffet Where Charlie Munger tap on bitcoin and cryptocurrencies. But everything suggests that, although they are quite hesitant about the idea of exposing themselves directly to digital assets, this does not prevent them from investing indirectly in this sector, which they like to criticize so much.
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