While Warren Buffet seems to be finally warming up to crypto - as indicated by his investment we covered earlier into Nubank, his investment partner Charlie Munger still absolutely despises it.
“I wish it had been banned immediately, and I admire the Chinese for banning it,” Munger said Wednesday at Daily Journal Corp.’s annual meeting. “I certainly didn’t invest in crypto. I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something. I just regard it as beneath contempt.”
The 98-year-old billionaire has been a long time critic of Bitcoin, famously calling it “rat poison.”
Munger also said on Wednesday that “certainly the great short squeeze in GameStop was wretched excess, certainly the Bitcoin thing is wretched excess. I would argue that venture capital is throwing too much money too fast, and there’s a considerable wretched excess in venture capital and other forms of private equity.”
What do you think of Mr. Munger’s thoughts? Sound off below!
