Billionaire and investor Charlie Munger: fiat currency “Going to Zero”

“The safe assumption for an investor is that over the next hundred years the (fiat) currency is going to zero.” – Charlie Munger on #Bitcoin pic.twitter.com/7PMFg9hQBt

— Michael Saylor⚡️ (@saylor) February 16, 2022

Saylor called Munger’s statement a great support for BTC. But it is common knowledge that Munger, like his partner Buffett, does not have cryptocurrencies in extra great love.

According to Reuters, Munger said he was proud to have avoided the “venereal disease” of crypto, adding:

“It simply came to our notice then. Some people think it’s modern, and they welcome the currency, which is so useful in blackmail, kidnapping and so on – tax evasion. “

He does not acknowledge the argument that cash is still a popular currency for money laundering, extortion and tax evasion, and continued:

“Everyone has to create their own new currency, and I think it’s crazy too. I would like it to be banned immediately, and I admire the Chinese for banning it. I think they were right and we made a mistake when we allowed it. “

Berkshire buys Nubank shares

Last week, however, one very interesting report appeared. Berkshire Hathaway (the seventh largest company in the world in terms of market capitalization), which Munger and Warren Buffett co-chair, has filed a report with the Securities and Exchange Commission stating the purchase of $ 1 billion worth of Nubank shares.

And why is this report so interesting? Know that Nubank is a Brazilian digital non-bank that operates outside of traditional finance and allows its customers to invest in cryptocurrency-related products.