Indeed, Munger denounced crypto as a “bad combination” of “partly fraud and partly delusion,” and “a currency that is good for kidnappers,” as he said in an interview with CNBC’s Becky Quick published on November 15. In the view of Warren Buffett’s right-hand man: Furthermore, Munger voiced his opinion that “reputation is very helpful in financial life. To destroy your reputation by associating with scumballs and scumball promotions is a huge mistake.” As he explained: According to the billionaire, “there are people who think they have to be on every deal that’s hot. They don’t care if it’s child prostitution or Bitcoin. If it’s hot, they want to be in on it. I think that’s totally crazy.”
Munger’s scathing views
Meanwhile, Munger has long been very vocal about his aversion towards crypto, likening it to venereal disease, as well as insisting that investors should “never touch” digital assets and that anyone selling them is “either delusional or evil,” as Finbold reported in July. At a shareholder meeting in April 2022, he stressed that he tended to avoid “things that are stupid and evil and make me look bad in comparison to somebody else – and Bitcoin does all three,” whereas Buffett earlier referred to crypto as “rat poison.” Watch the entire video below: Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
