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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Charlie Munger, the Vice Chairman of Berkshire Hathaway, doesn’t think much of Bitcoin. In fact, he thinks it’s downright dangerous. Munger made his views on Bitcoin clear at the recent Daily Journal Corporation meeting, where he said that the cryptocurrency is “worthless artificial gold.”
He went on to say that Bitcoin is “totally asinine” and that people who invest in it are “speculators” who are “dumb.”
While Munger may be a bit of a curmudgeon when it comes to Bitcoin, he does have a point.
In an interview with Financial Times, Charlie Munger, the billionaire vice chairman of Berkshire Hathaway, called Bitcoin “a real bubble”
Munger said that while he doesn’t own any Bitcoin, his son does, “to my shame.” He went on to say that he thinks the cryptocurrency is in a “real bubble,” and that people are buying it to make money, rather than using it as a means of exchange. While acknowledging that blockchain technology is “brilliant,” Munger said he doesn’t understand why Bitcoin should be worth anything. “It doesn’t produce anything. You can stare at it all day and no little Bitcoins come out,” he said. .
In an interview on CNBC’s “Halftime Report,” Bill Maher said he thinks bitcoin is “a scam.”
“I just think it’s a scam,” Maher said. “I don’t know if it’s a bubble, but I just think it’s a scam.”
When asked if he would invest in bitcoin, Maher said “no.”
“If you’re dumb enough to buy it, you deserve to lose your money,” Maher said. Maher’s comments come as bitcoin continues to surge in value. The digital currency is up more than 1,000% this year, and is currently trading at around $15,000.
When NSA contractor Edward Snowden went on the run in 2013, he took with him a trove of classified documents that he later leaked to journalists. Among those documents were slides detailing the NSA’s efforts to track Bitcoin users. At the time, Bitcoin was a relatively new phenomenon and was largely associated with illicit activity.
In 2017, JP Morgan Chase’s CEO, Jamie Dimon, called Bitcoin a “fraud” and said that anyone caught trading it would be fired. Since then, the price of Bitcoin has more than quadrupled and JP Morgan has become one of the leading investment banks in the crypto space. In February 2021, JP Morgan announced that it had invested $2.
6 billion into Bitcoin.
In an interview with Bloomberg, Gensler said that Bitcoin has “gotten ahead of itself,” and that the current price is not supported by the underlying fundamentals. He also said that there is a “good chance” that Bitcoin will be regulated in the future, which could lead to its price dropping. Gensler’s comments come as the price of Bitcoin has surged to new all-time highs in recent weeks.
J.P. Morgan Chase & Co. (JPM) CEO Jamie Dimon said he regretted calling bitcoin a “fraud.”.
“The blockchain is real. You can have crypto yen and dollars and stuff like that,” Dimon said at the New York Times DealBook conference on Wednesday. ” ICOs .
Morgan Stanley, one of the largest investment banks in the United States, has released a report on Bitcoin entitled “Bitcoin Decrypted: A Brief Teach-In and Implications for the Investor.” The report is authored by Sheena Shah, head of technology research for the bank. In the report, Shah acknowledges that Bitcoin has come a long way since its inception in 2009, and that its underlying blockchain technology has the potential to revolutionize how we store and transfer value. However, she also warns that Bitcoin is still a very volatile asset, and that investors should be cautious when considering investing in it.
In October of 2017, Goldman Sachs announced that they were considering opening a cryptocurrency trading desk, which caused the price of Bitcoin to surge. However, in December of 2018, the investment bank announced that they were no longer planning to open a cryptocurrency trading desk. The bank did not give a reason for the change in plans, but it is speculated that it was due to the volatile nature of the cryptocurrency market.
