Charlie Munger once again criticized cryptocurrencies. What did he say this time? – CVBJ


Speaking at the recent Sohn Hearts and Minds conference, Charlie Munger maintained his stance of rejection of the performance of digital assets. This denoted their dissatisfaction with the largely volatile and poorly regulated scenario in which Bitcoin and other cryptocurrencies navigate.

Another attack on the crypto world

In recent days, the deputy chairman of Warren Buffett’s Berkshire Hathaway cabinet has expressed an opinion that extends his previous positions. The billionaire has once again stressed that Bitcoin and his peers represent an area in which he does not wish to participate.

Observing the state of the cryptocurrency environment, Charlie Munger has made it clear that he is suspicious of the growth of digital assets. This, highlighting the “madness” in which cryptocurrencies are involved. On this occasion, he spoke of his wish that these types of assets “have never been invented”.

Within the conference, he also showed his stance of rejection towards those who buy in the crypto world by inflating prices. By counteracting these behaviors, he reaffirmed his position not to acquire them. “I will never buy cryptocurrency,” he said.

Like this investor in securities, Buffett confirmed his opinion contrary to the developments that the crypto world has seen in recent years.

Approval of restrictions

While some countries maintain their support for the development and evolution of cryptocurrencies, Charlie Munger has supported the nations that restrict them. In this sense, he expressed some satisfaction with the steps taken by China to ban the crypto markets.

He stressed that the United States is “weak” against the Asian country by not following its restrictive proposal to stop the rise of digital assets. To this view, he added the fact that the volatility of the new market has carte blanche, with virtually no government regulation.

“As long as my country doesn’t do this, we are inferior to China,” the billionaire investor said.

He exclaimed that cryptocurrencies originate from an “exuberance of capitalism,” reaching the point of being “harmful” to those who invest in them.

In this way, he highlighted his initiative not to use his money to buy crypto assets, mentioning that he only invests in “good things for people.” Munger does not believe that the world of crypto is good, on the contrary, its structure is managed by people who “think for themselves”.

“I just can’t stand being part of these crazy booms one way or another. It seems to work; everyone wants to pile up, and I have a different attitude, ”he commented on the subject.

While his opinion remains radically opposed to the enlargement of the crypto market, the upward trajectory does not appear to be stopping. Bitcoin, along with other cryptocurrencies, presents some fixes to break down new barriers later.

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