It looks like the Berkshire Hathaway group and its members won't be getting close to Bitcoin anytime soon. In a clip that went viral filming Berkshire Hathaway's annual meeting, American billionaire investor, businessman and current president of Berkshire Hathaway, Charles Thomas Munger, expressed his views on Bitcoin as an asset and unfortunately for bulls. Bitcoin, Munger's stance is not in favor of the primary digital asset.
His thoughts turned into words
Apparently, Munger's inner circle is aware of his critical views on Bitcoin, as noted below. Munger isn't even afraid to reveal that he's unhappy with Bitcoin's success over the years.
“Those who know me well are just waving the red bull flag. Obviously I hate Bitcoin's success, ”he said. The sentiment behind this prospect for the billionaire is that Bitcoin is a tool that has become easily accessible to criminals of many types. But much more, Munger draws on Bitcoin's credibility as a financial asset, adding that he's not comfortable with the idea of investing in an asset that looks a lot like a trend.
Extracts from his statement read: “… I do not welcome such a useful currency for criminals, extortionists and so on. Nor do I like this paying a few billion dollars more to someone who has just invented a new financial product out of thin air ”.
He concludes by opening the floor to others to do the work of criticism and find the negative sides of the asset; something Warren Buffett seems to agree with. But with the application of fairness, he objectively believes that Bitcoin is a disservice to civilization.
“I think I have to modestly say that the whole damn development is disgusting and contrary to the interest of civilization. And I leave the criticism to others ”. Munger concluded.
Warren Buffett was quick to speak in support
In support of what Munger said, the well-known investor Warren Buffett, who has always been against Bitcoin, was quick to give his opinion, saying that he agrees with what Munger said.
It is no news that Warren Buffett, like Bill Gates, has never been a fan of Bitcoin. Although Gates hasn't given many interviews in which he talks at length about bitcoin, Warren Buffett reiterated that the asset is a gamble for him and not something else to invest money in, as he warns cryptocurrency investors that the end would not be. so enjoyable.
Warren Buffett has previously described Munger as his right-hand man and closest partner. As both sides have similar views on Bitcoin, it may take much longer for billionaires to welcome the idea of investing or even recommend the asset to other investors, despite Bitcoin's price trends and the quotation that it has achieved in this 2021. And what do you think of their declarations? Let us know in the comments below.