Assets, Bitcoin

What Did Charlie Munger Say About Bitcoin?

In an interview with CNBC in 2018, Charlie Munger, the Vice Chairman of Berkshire Hathaway, was asked about his thoughts on Bitcoin. He responded by saying that he thought it was “totally asinine” and compared it to “trading turds”.

Munger is known for his value investing philosophy and for being a long-time business partner of Warren Buffett. He has been critical of other investment opportunities that he has seen as being speculative bubbles, such as the dot-com bubble in the late 1990s.

It’s not surprising that Munger would be critical of Bitcoin, given his investment philosophy. He has said in the past that investors should “stick to their knitting” and invest in companies that they understand.

NOTE: WARNING: The views expressed by Charlie Munger regarding Bitcoin are his own and should not be taken as advice. Investing in Bitcoin is highly speculative and carries a high risk of loss. Cryptocurrency investments are not insured by the FDIC or any other government agency and may lose value. Be sure to do your own research and understand the risks before investing in cryptocurrency.

Bitcoin doesn’t fit into this philosophy, as it’s a digital currency that isn’t backed by any government or central bank.

Munger’s comments about Bitcoin are in line with what Buffett has said about the digital currency. In 2014, Buffett called it a “mirage” and said that people investing in it were “dumb”.

Despite their criticisms, both Munger and Buffett have acknowledged that blockchain technology, which is the underlying technology of Bitcoin, has potential applications. In 2018, Berkshire Hathaway invested in two companies that are working on blockchain technology.

While Munger and Buffett may not be fans of Bitcoin, they have both acknowledged that blockchain technology has potential. It remains to be seen if this potential will be realized or if Bitcoin will continue to be shunned by the world’s most famous investors.

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