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

Charlie Munger, the past vice president of Berkshire Hathaway and Warren Buffet’s close manus man, has nary contented with providing his honorable thoughts connected cryptocurrency: He hates it. 

Speaking astatine a shareholder’s Q&A league astatine the yearly gathering for LA-based paper company, Daily Journal Corp, the 98-year-old investing icon likened crypto to a sexually transmitted disease.

"I surely didn't put successful crypto. I'm arrogant of the information that I avoided it. It's similar immoderate venereal disease."

Munger continued to explicit his contempt for Bitcoin and different cryptocurrencies, adding, “I privation it had been banned immediately… I respect the Chinese for banning it. I deliberation they were close and we were incorrect to let it.”

Munger and Buffet are nary strangers to criticizing and downplaying the emergence of cryptocurrency. Buffett has antecedently ridiculed Bitcoin for being an plus that "does not make anything," he’s called it "rat poison squared” and said that it is thing much than a “delusion that attracts charlatans”.

Munger’s imaginative depiction of cryptocurrency bash not look to beryllium reflected successful the caller concern thesis of Berkshire Hathaway, which is softening up connected its vulnerability to cryptocurrency.

In a securities filing precocious Feb. 14, Berkshire Hathaway disclosed that it had accrued its vulnerability to cryptocurrency by purchasing $1 cardinal worthy of Nubank stock, Brazil’s largest fintech slope which is fashionable amongst Brazil’s crypto investors.

"The Nubank concern tin beryllium tagged arsenic Buffett's mode of supporting the fintech/crypto satellite without taking backmost his criticisms of the past," asserted Greg Waisman, co-founder and main operating serviceman of crypto wallet work Mercuryo, adding that Berkshire is present backing the "digital currency ecosystem indirectly."

Related: Warren Buffett Doesn’t Want to Own immoderate Cryptocurrency

Crypto Twitter has been speedy to respond to Munger’s comments connected integer assets.

@gmoneyNFT called retired the irony successful Munger’s caller remarks constituent blank to their 225,000 followers:

— gmoney.eth (@gmoneyNFT) February 17, 2022

While @cryptonator1337 took purpose astatine Munger’s age, stating to his 35k followers that Munger whitethorn not beryllium the champion idiosyncratic to consult erstwhile it comes to caller technology.

— CR1337 (@cryptonator1337) February 16, 2022