Berkshire Hathaway vice chairman just called Bitcoin ‘noxious poison’
Who woulda guessed: an old school investor is really, really anti-Bitcoin.
On Wednesday, Charles Munger, the vice chairman of Warren Buffett’s investment firm Berkshire Hathaway, described Bitcoin as “noxious poison.”
While at the annual meeting of the Daily Journal, which Munger chairs, the Guardian reports that he also called the interest in Bitcoin “totally asinine.”
“I never considered for one second having anything to do with it,” Munger said. “I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.”
Munger apparently wants the US to approach Bitcoin more like China. You know, that bastion of free enterprise. In September 2017, China reportedly ordered all cryptocurrency exchanges to shut down.
“Our government’s more lax approach to it is wrong,” Munger said. “The right answer to something like that is to step on it hard.”
Right, because the financial industry is known for its regulations that benefit all Americans.
You do you, Munger. Meanwhile, Bitcoin is trading at close to $10,000 again.