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.”
NOTE: WARNING: The views and opinions expressed in any discussion about “What Does Charlie Munger Think About Bitcoin?” are solely those of the participants, and do not necessarily reflect the views of Charlie Munger. Please do your own research and make your own decisions regarding investments.
While Munger may be a bit of a curmudgeon when it comes to Bitcoin, he does have a point. The cryptocurrency is incredibly volatile and has no intrinsic value.
It’s also been used for illicit activities such as money laundering and drug trafficking.
Investing in Bitcoin is a risky proposition, and Munger’s comments serve as a reminder of that fact.
8 Related Question Answers Found
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. .
Gary Gensler, the current Chairman of the U.S. Commodity Futures Trading Commission (CFTC), has been a vocal advocate of cryptocurrency regulation. In a recent interview, Gensler stated that he believes Bitcoin (BTC) is here to stay, but that there are serious issues with its current design that need to be addressed.
Suze Orman is a well-known financial advisor and she has a lot to say about Bitcoin. She is not a fan of the cryptocurrency and she has warned people about investing in it. Orman believes that Bitcoin is a risky investment and she does not recommend putting any money into it.
Warren Buffett is not a fan of bitcoin. In fact, he has been quite critical of the cryptocurrency. In an interview with CNBC in 2018, he called bitcoin “probably rat poison squared.” He has also said that he would never invest in bitcoin because it is not a productive asset.
In 1867, Karl Marx published the first volume of Das Kapital, his magnum opus on political economy. In it, Marx laid out his theory of “capitalism”—a system of economic production characterized by private ownership of the means of production and the exploitation of labor power for profit. For Marx, capitalism was a dynamic and contradictory system that was both the source of great wealth and poverty, innovation and exploitation.
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.
Bitcoin, the decentralized digital currency, has been gaining popularity and media attention since its inception in 2009. But what do economists think about Bitcoin
Generally, economists are skeptical of Bitcoin and other cryptocurrencies. They tend to view them as speculative assets rather than true currencies.
In 2017, JPMorgan Chase CEO Jamie Dimon called bitcoin a “fraud” and said he would fire any employee trading it for being “stupid.” But the bank he leads is now developing its own cryptocurrency. JPMorgan is set to launch a digital coin called JPM Coin later this year, becoming the first major U.S. bank to develop its own cryptocurrency.
