Charlie Munger von Berkshire praised China for the ban on crypto - Wished that crypto had never been invented -
Charlie Munger von Berkshire praised China for the ban on crypto - Wished that crypto had never been invented -
The deputy chair of Berkshire Hathaway, Charlie Munger, Warren Buffett's right hand, says China did the right thing to "prohibit" cryptocurrencies, including Bitcoin. He wishes that cryptocurrencies have never been invented and emphasized that he will not participate in the crypto boom. He holds "this era even more crazy than the Dotcom era".
Warren Buffett's right hand Charlie Munger wishes, crypto would never have been invented
The deputy chair of Berkshire Hathaway, Charlie Munger, often known as a warrble Buffett's right hand, spoke to son Hearts and Minds on Friday, Australia's most important investor event, about cryptocurrency. The 97-year-old previously referred to Bitcoin as "rat poison" and compared the trade in cryptocurrencies with "trading shit".
to the current investment environment he said:
I think the Dotcom boom was crazy about the ratings than what we have now. But overall I think this era is even more crazy than the Dotcom era.
In terms of cryptocurrency, Munger said: "I just can't stand taking this insane booms, one way or another. Everyone wants to work in."
The manager of Berkshire emphasized, however, that he had a "different attitude" and stated: "I want to earn my money by selling things that are good for them, not things that are bad for them." He added: "Believe me, the people who create cryptocurrencies do not think of the customer, but of themselves."
munger emphasized: "I will never buy a cryptocurrency. I wish you had never been invented." He said:
I think the Chinese made the right decision to simply ban them. My country - the English -language civilization - made the wrong decision.
MUNGER was positive about China, where Berkshire made significant investments, including car manufacturer BYD. He believes that the United States and China could achieve an "acceptable relationship". He noted that "Australia can be in a constructive position with his deep commitment in China," he suggested that "Australia can encourage both the United States and China to be more sensible."
The chairman of Berkshire made some other comments on Bitcoin and cryptocurrency this year. He said in May: "I should say modestly that the entire damn development [crypto] is disgusting and contrary to the interest of civilization. "
In February he advised investors, buy . "It's really a kind of artificial replacement for gold. And since I never buy gold, I don't buy bitcoins and recommend that other people follow my practice," he said.
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