There is a critic who is one of the strongest in the business.
In an interview with the Australian Financial Review published Tuesday, Charlie Munger, vice chairman of Warren Buffet's company, spoke about his dislike for digital currencies.
Munger said that there was nothing to invest in. I don't think buying this stuff or trading in it is a good idea.
In winter, Munger was harsh. He compared it to a venereal disease and said he regards it as beneath his contempt.
At the annual shareholder meeting, Munger called it stupid and evil, while Buffet said that it didn't produce anything.
The nonagenarians of Warren Buffet and Charlie Munger have built a company that made $90 billion in net income last year.
The 98-year-old billionaire said in an interview that the industry was full of bad actors. Wall Street is expecting the crash to get worse.
There is a question of when Washington will take action against thecryptocurrencies. Following in the footsteps of President Biden, the Governor of California has made a move to craft regulations for digital currency.
Last December, Munger said that China made the right decision by banning it.
In an interview with the AFR, Munger said that he emphasizes investments in stocks as they are pieces of real businesses.
The existing monetary system is being undermined by anyone who buys or sellscryptocurrencies.
He thinks anyone who sells this stuff is either delusional or evil. I don't want to undermine the world's national currency.
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