Berkshire Hathaway's Vice-Chairman Says He Hates Bitcoin
It seems that the vice-chairman of Berkshire Hathaway, Charlie Munger, is not a fan of cryptocurrencies. In fact, he considers bitcoin to be similar to a "noxious poison." The statement was made by Munger during a shareholder meeting.
Munger says that he started hating bitcoin more when its popularity increased
Munger said that he never thought about investing in bitcoin. He also claimed that bitcoin represents "easy money" now and this is the reason why so many people are so interested in it. Munger also said that he hoped that his family won't get involved in "things like bitcoin."
“I never considered for one second having anything to do with [bitcoin]. I detested it the minute it had been raised. The more popular it got, the more I hated it.”
Another thing that Munger shared is linked to the fact that governments should get more involved on the cryptocurrency market. He claimed that they should be more active in regulating cryptocurrencies.
“Our more relaxed approach is wrong. The right answer is to step on it hard. It’s the government’s job.”
Munger also claimed that a different payment system might appear in the future and gave as an example here WeChat, which is popular in China. However, it seems that he does not believe that this future payment system might be linked to cryptocurrencies.
