{"id":406735,"date":"2022-02-17T09:55:57","date_gmt":"2022-02-17T06:55:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-is-like-venereal-disease-and-should-be-banned-charlie-munger\/"},"modified":"2022-02-17T09:55:57","modified_gmt":"2022-02-17T06:55:57","slug":"crypto-is-like-venereal-disease-and-should-be-banned-charlie-munger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-is-like-venereal-disease-and-should-be-banned-charlie-munger\/","title":{"rendered":"# Crypto is like ‘venereal disease’ and should be banned: Charlie Munger"},"content":{"rendered":"

“# Crypto is like ‘venereal disease’ and should be banned: Charlie Munger <\/strong>”
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Charlie Munger, the ancient vice chairman of Berkshire Hathaway and Warren Buffet\u2019s right hand man, has no issue with providing his honest thoughts on cryptocurrency: He hates it.\u00a0<\/p>\n

Speaking at a shareholder\u2019s Q&A session at the annual meeting for LA-based news<\/a>paper company, Daily Journal Corp, the 98-year-old investing icon likened crypto to a sexually transmitted disease.<\/p>\n

“I certainly didn’t invest in crypto. I’m proud of the fact that I avoided it. It’s like some venereal disease.”<\/p><\/blockquote>\n

Munger continued to express his contempt for Bitcoin and other cryptocurrencies, adding, \u201cI wish it had been banned immedia<\/a>tely\u2026 I admire the Chinese for banning it. I think they were right and we were wrong to allow it.\u201d<\/p>\n

Munger and Buffet are no strangers to criticizing and downplaying the emergence of cryptocurrency. Buffett has previously ridiculed Bitcoin for being an asset that “does not create anything,” he\u2019s called it “rat poison squared\u201d and said that it is nothing more than a \u201cdelusion that attracts charlatans\u201d.<\/p>\n

Munger\u2019s imaginative depiction of cryptocurrency do not seem to be reflected in the new investment thesis of Berkshire Hathaway, which is softening up on its exposure to cryptocurrency. <\/p>\n

In a securities filing late Feb. 14, Berkshire Hathaway disclosed that it had increased its exposure to cryptocurrency by purchasing $1 billion worth of Nubank stock, Brazil\u2019s largest fintech bank which is popular amongst Brazil\u2019s crypto investors.<\/p>\n

“The Nubank investment can be tagged as Buffett’s way of supporting the fintech\/crypto world without taking back his criticisms of the past,” asserted Greg Waisman, co-founder and chief operating officer of crypto wallet service Mercuryo, adding that Berkshire is now backing the “digital currency ecosystem indirectly.”<\/p>\n

Related: Warren Buffett Doesn\u2019t Want to Own any Cryptocurrency<\/strong><\/em><\/p>\n

Crypto Twitter has been quick to respond to Munger\u2019s comments on digital assets. <\/p>\n

@gmoneyNFT called out the irony in Munger\u2019s recent remarks point blank to their 225,000 followers:<\/p>\n

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Charlie Munger: Fiat currency is going to zero<\/p>\n

Also Charlie Munger: Crypto is like some venereal disease. I’m proud of the fact that I’ve avoided it. pic.twitter.com\/ua85ubdy35<\/a><\/p>\n

\u2014 gmoney.eth (@gmoneyNFT) February 17, 2022<\/a><\/p><\/blockquote>\n