Crypto:
29881
Bitcoin:
$68.554
% 0.97
BTC Dominance:
%52.7
% 0.31
Market Cap:
$2.57 T
% 0.03
Fear & Greed:
75 / 100
Bitcoin:
$ 68.554
BTC Dominance:
% 52.7
Market Cap:
$2.57 T

Charlie Munger: Bitcoin Disrupts the Financial System!

Charlie Munger

Vice Chairman of the Board of Directors of Berkshire Hathaway and Warren Buffett’s right hand, Charlie Munger, harshly criticized Bitcoin and other cryptocurrencies in his statement to the Wall Street Journal. Munger emphasized the importance of the issue of traditional currencies by states and sovereign powers in terms of reliability, arguing that Bitcoin disrupts this system.

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The 99-year-old investor, described the impact created by cryptocurrencies in the financial world as a “bad-smelling ball“. Munger stated that artificial currencies, by disrupting the traditional financial system, undermined reliability and “worsened the content“.

In his previous statements, Munger opposed Bitcoin and other cryptocurrencies, stating that such digital assets should be banned completely. Moreover, he emphasized that he sees cryptocurrencies as gambling.

Charlie Munger criticisms of Bitcoin and cryptocurrencies are an example of the attitudes of important figures in the financial world towards digital assets.


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