Charlie Munger is a billionaire investor.
Munger said at the Sohn conference that he wished they had never been invented.
Munger said that the Chinese made the correct decision by banning them.
The market value of the cryptocurrencies market briefly surpassed $3 trillion in November, hitting a record high, as interest in digital assets surged.
The 97-year-old vice chairman of the company hasn't changed his mind. During a Q&A session at the annual shareholder meeting in May, Munger said that his dislike for the digital currency increased.
He said that he hates the success of the currency, which is useful to kidnappers and extortionists.
Munger said that the development is disgusting and contrary to the interests of civilization.
The supporters of the digital currency would disagree with Munger. They believe that a store of value like the one in bitcoin can be used to hedge against inflation. They would argue that the peer-to-peer financial system is sound.
Munger has criticized the volatility of the currency.
It is an artificial substitute for gold. At the annual shareholders meeting for the Daily Journal in February, Munger said he never buys any gold or any other virtual currency. Oscar Wilde said about fox hunting. He said it was the pursuit of the unconquerable.
According to Coin Metrics, the market value of the digital currency is over $1 trillion.
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This 32-year-old has spent over $125,000 on NFTs to display in the metaverse.
