May 12, 2021

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Warren Buffett’s Right-Hand Man: BTC’s Success is ‘Disgusting’

2 min read

Charlie Munger, the 97-year-old American billionaire investor, hates BTC’s guts and wants everyone to know it.

Munger spoke yesterday at the annual shareholder meeting of Berkshire Hathaway, the conglomerate co-owned by his life-long business partner, 90-year-old Warren Buffett.

“Of course, I hate the BTC success, and I don’t welcome a currency that’s useful to kidnappers and extortionists, and so forth,” said Munger, who serves as Berkshire Hathaway’s vice-chairman.

“Nor do I like just shuffling out of extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air,” he said.

“So, I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization.”

Munger’s attacks on BTC riled up Crypto Twitter. In a wave of ad-hominem attacks, Munger was lambasted for everything from allegedly laundering billions of dollars to his relentless defense of his coke-drinking habits.

But Buffett, who previously called BTC “rat poison squared”, chose not to join in on Munger’s anti-BTC tirade.

“I’m gonna dodge that question because we probably got hundreds of thousands of people watching that own BTC, and we probably have two people that are short,” he said.

Buffett didn’t want to rain on anyone’s parade.

“So we got a choice of making 400,000 people mad at us and unhappy, and, or making two people happy, and that’s just a dumb equation.”

Buffett first received BTC in February 2020 at a charity dinner with Justin Sun, CEO of TRON. Sun had paid $4.6 million for the honor. But once a nocoiner, always a nocoiner: Buffett’s ownership of BTC doesn’t appear to have changed his mind.

As for Munger, well, he at least called it a success.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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