Warren Buffett’s business partner Charlie opposes cryptocurrencies
Warren Buffett’s Berkshire Hathaway’s vice chairman and 99-year-old veteran investor Charlie Munger is negative about cryptocurrencies. He says that it is very funny that someone is buying it, it is very stupid. Charlie said these things at the annual virtual meeting of The Daily Journal. He said that the government should not allow it.
Recently, 99-year-old veteran investor Charlie Munger expressed his opinion in an article in the Wall Street Journal that the US should also follow in the footsteps of China and ban crypto.
Warren Buffett’s Berkshire Hathaway’s vice chairman and 99-year-old veteran investor Charlie Munger is negative about cryptocurrencies. He says that it is very funny that someone is buying it, it is very stupid. Charlie said these things at the annual virtual meeting of The Daily Journal. He said that the government should not allow it. Recently, in an article in the Wall Street Journal, he expressed his opinion that the US should also follow in China’s footsteps and ban crypto. There is a mixed trend of Twitter users regarding this trend of his.
A mixed response of users is visible on Twitter. A user says that Charlie has spoken a wise word. So far no one has been able to find a single use of bitcoin where it is better than the alternative i.e. current money system, except for ransom.
Charlie Munger on crypto: “It’s just ridiculous that anybody would buy this stuff…it’s massively stupid.” https://t.co/Q64YgfOzKG pic.twitter.com/QnHs0v1yxP
— CNBC (@CNBC) February 15, 2023
At the same time, a user has expressed disappointment about the crypto opposition of a veteran like Mangar. According to the user, crypto is also being used for some wrongdoings but it should not be forgotten that it is a new technology and asset class. According to the user, the intervention of this technology can increase the world of finance and recordkeeping.
One user has written that Charlie Manger supports the dollar because of his age. According to the user, the value of the dollar was around 99 percent in his time, but now it is only 3 percent. In such a situation, the user says that the dollar made Charlie Manger rich, so they are supporting it. On the other hand, for those who are 20 to 30 years old, that is, when they were born, the value of the dollar was only 8 percent, which is now 3 percent, so how is the dollar right for such people?
Who is Charlie Munger?
Charlie Manger is a shareholder and board member of The Daily Manger. Last year, he left the post of its chairman. Charlie Munger advises on market volatility, Federal Reserve rate hikes, cryptocurrencies and investing in China, and more at the Daily Journal’s annual meeting. Charlie Munger is the vice chairman of Warren Buffett’s company Berkshire Hathaway and Buffett’s longtime business partner.
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