Charlie Munger calls bitcoin ‘disgusting and contrary to the interests of civilization’

Berkshire Hathaway Vice Chairman Charlie Munger's distain toward bitcoin has only intensified amid the digital asset's record run this year."Of course I hate the bitcoin success," the 97-year-old Munger said during a Q&A session at Berkshire's annual shareholder meeting Saturday. "I don't welcome a currency that's so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.""I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization," said Munger, a legendary investor in his own right.Warren Buffett, who avoided the initial question on bitcoin earlier, responded to Munger's answer: "I'm alright on that one." The "Oracle of Omaha" said he didn't want to comment directly on the digital token because he didn't want to get…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE