In a recent interview with WSJ, Munger compared the cryptocurrency industry to a dirty prank.
In his latest comments deriding the asset class, the Berkshire don called the blockchain industry a “stinkball” in finance.
Charlie Munger Blasts Crypto ‘Stinkball’
Charlie Munger’s extended remarks on cryptocurrency for the interview with WSJ’s Karen Langley did give crypto credit for being disruptive:
“The only way to get from hunter-gathering to civilization that we know of that’s ever worked is to have a strong currency[…] It can be gold coins, it can be promises in banking systems[…] When you start creating an artificial currency… you’re throwing your stink ball into a recipe that’s been around for a long time, that’s worked very well for a lot of people.”
That’s a bit toned-down from a gibe he made earlier this year calling Bitcoin the “stupidest investment” the billionaire ever saw. As chair of Berkshire Hathaway, his investments have made him a personal fortune worth some $2.6 billion. Pardon me, do you have any Grey Poupon?
Crypto X Reacts to Billionaire’s Gibe
In response to the jovial investment legend’s merciless teasing and mockery, the crypto community on X had some stiff rejoinders.
A verified account with the screen name “Cute Baby” said:
“Although I fully respect Mr Munger, I wouldn’t get bitcoin advice from someone born in 1924.”
It’s harsh but true. Mr. Munger was born in the 1920s, and he and longtime investing partner Warren Buffett have always been late to invest in disruptive tech. Neither one of them are computer buffs, and one of the keys to their investment philosophy i
Go to Source to See Full Article
Author: Wesley Messamore