Before diving into the statement, we know firstly the statement, which is Mr. Charlie Munger, who is the right arm of Warren Buffett.
Charlie Munger is a 97-year-old American billionaire, investor, businessman, former real estate attorney and architectural designer.
He is the vice president of Berkshire Hathaway, the group controlled by Warren Buffett.
Buffett described Munger as his closest partner and right forearm.
Munger was Chairman of Wesco Financial from 1984 until 2011.
He is also the Chairman of the Board of Directors of the “Daily Journal”, based in Los Angeles, California, and a former Director of “Costco Wholesale”.
Warren Buffett’s right-arm statement about Bitcoin!
Yesterday at the Berkshire Hathaway annual shareholder meeting, Munger spoke about Bitcoin, including:
Of course, I hate the success of Bitcoin, and I don’t welcome a useful currency for kidnappers, extortionists, etc.
Nor do I like simply turning billions and billions of dollars into someone who just invented a new financial product out of thin air.
I think I must say humbly that I believe the damned development in its entirety is disgusting and contrary to the interests of civilization.
Munger’s attacks on Bitcoin have angered the crypto community on Twitter.
Where a wave of attacks and harsh responses to him came accusing him of being a traditional human being who advocates drinking cola and does not understand him much in the digital economy.
Munger’s statement and opinion is not much different from that of his friend Buffett, who once described Bitcoin as a rat poison.
“Buffett” faced the same question directed to “Munger” about his opinion of Bitcoin, but he declined to respond and avoided the answer out of respect for those who already own the currency.
But he mocked his answer as he stated:
We have a choice of making 400,000 people angry and unhappy with us, or two happy people, and that’s just a stupid equation.
Buffett’s statement hints that the number of Bitcoin adopters and holders is relatively small, with those who see it as just a bubble.
It should be noted that “Buffett” received Bitcoin for the first time in February 2020 at a charity dinner with “Justin Sun”, CEO of Tron, where “Sun” paid $ 4.6 million for this dinner.
But it seems that “Buffett”, despite receiving bitcoin, did not change his mind about the first digital currency in the cryptocurrency market, which managed to increase in its market value and exceeded $ 1 trillion, which is times the market value of “Berkshire Hathaway”.