At the company's annual shareholder meeting Saturday in Omaha, Neb., Warren Buffet and Charlie Munger took turns bashing the digital currency.
I don't know, whether it goes up or down in the next year or five or 10 years. The one thing I'm pretty sure of is that it doesn't produce anything.
He said that if he invests in apartments, they will produce rent and if he invests in farmland, they will produce crops.
I wouldn't take it if you told me you owned all of the world's bitcoins for $25, he said, according to CNBC. It isn't going to do anything.
In his life, Munger tries to avoid things that are stupid and evil, and he says that the internet has made him look bad.
It's stupid because it's still likely to go to zero, and it's evil because it undermines the Federal Reserve System. He was smart enough to ban it in China.
According to CNBC, Buffett called the poison rat poison. CNN reports that Munger said it was like avenereal disease.
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