Crypto is like ‘venereal disease’ and should be banned: Charlie Munger

Late February 14th, Berkshire Hathaway submitted a securities filing exposing that it had acquired $1 billion of Nubank stock in Brazil. Nubank is Brazils biggest fintech bank and is extremely concerned by crypto investors.

Charlie Munger, Warren Buffets vice chairman and ancient vice chair of Berkshire Hathaway, is not afraid to share his thoughts on cryptocurrency.

Munger continued to voice his displeasure for Bitcoin and other cryptocurrency, adding that “I wish it was prohibited immediately … I admire China for prohibiting it.” They were appropriate and we were incorrect to allow it.”

At the annual meeting of LA-based newspaper company Daily Journal Corp, an investor Q&A session was held. The 98-year old investing icon compared crypto to a sexually transmitted illness.

” The Nubank investment could be tagged as Buffetts method to support the fintech/crypto industry without reclaiming his critics from the past,” mentioned Greg Waisman (co-founder and chief operating workplace of Mercuryos crypto wallet service Mercuryo), including that Berkshire is now supporting the “digital currency community indirect.”

Mungers fantasies about cryptocurrency are not shown in Berkshire Hathaways brand-new investment thesis, which is softening its direct exposure to it.

” I didnt invest any crypto. Its something I am proud of. Its almost like a venereal illness.”

Buffet and Munger are not strangers to minimizing and critiquing cryptocurrencys introduction. Buffett ridiculed Bitcoin as an asset that “does not create anything”, he called it “rat toxin squared”, and claimed that it was nothing however a “misconception which attracts charlatans”.

Related: Warren Buffett does not want to own any cryptocurrency

Crypto Twitter quickly responded to Mungers remarks about digital possessions.

@gmoneyNFT explained the paradox of Mungers current comments point blank to their 225,000 followers:

@cryptonator1337 made fun of Mungers age by specifying to his 35k fans that Munger may not be the best individual for new technology recommendations.

” I didnt invest any crypto. Charlie Munger: Fiat currencies will go to zero. Charlie Munger likewise: Cryptocurrency is like a venereal illness. Munger was born in 1924 … Lenin was eliminated. The first radio broadcast by the United States president was made in New York State.

Munger was born in 1924 … Lenin was killed. The very first radio broadcast by the United States president was made in New York State.
— CR1337 (@cryptonator1337) February 16, 20,22
Read More

Charlie Munger: Fiat currencies will go to zero. Charlie Munger also: Cryptocurrency is like a venereal illness.
— gmoney.eth, February 17, 2022 (@gmoneyNFT).