Everyone Should Avoid Crypto ‘Like It’s An Open Sewer, Full Of Malicious Organisms’ – Featured Bitcoin News

Everyone Should Avoid Crypto ‘Like It’s An Open Sewer, Full Of Malicious Organisms’ – Featured Bitcoin News

Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has a message for investors considering cryptocurrency. “Never touch it,” he emphasized, adding that everyone should follow his example and avoid crypto “as if it were an open sewer, full of malicious organisms.”

Charlie Munger reaffirms his anti-crypto stance

Charlie Munger, Warren Buffett’s right-hand man and longtime business partner, hurled multiple insults at the cryptocurrency in an interview with The Australian Financial Review, published on Tuesday. Munger has previously called bitcoin “rat poison” and said last year that he hates success BTC.

Noting that the “crypto craze” is a “mass craze,” he told the publication:

I think anyone selling this stuff is either delusional or evil. I will not touch cryptocurrencies.

The Berkshire CEO continued: “I’m not interested in undermining the national currencies of the world.”

Munger was then asked what advice he would give to other investors who may be considering investing in cryptocurrencies. “Total avoidance is the correct policy,” he replied, adding:

Never touch it. Never buy it. Let it pass.

Like Buffett, Munger believes that stocks of real money-generating companies are better investments. “Actions have a real interest in real business,” he emphasized.

In contrast, “Crypto is an investment in nothing, and the guy trying to sell you an investment in nothing says, ‘I have a special kind of nothing that’s hard to make more of,’” he described.

Munger emphasized, “I don’t want to buy anything, even if someone tells me I can’t do more than that… I find it almost crazy to buy these things or trade them.” He elaborated:

I just avoid it like it’s an open sewer, full of harmful organisms. I just avoided it completely and recommended that everyone else follow suit.

Munger has never been a fan of bitcoin or any other cryptocurrency. In February, he said that the government should ban it BTC, calling it a “venereal disease”. He has praised China several times in the past for banning cryptocurrencies, stating that he wishes cryptocurrencies had never been invented. In May of last year, he said that bitcoin is “abhorrent and against the interests of civilization.”

In May, Munger he said: “I try to avoid things that are stupid and mean and make me look bad compared to someone else – and Bitcoin does all three.” He added: “It’s stupid because it’s still likely to go to zero.”

What do you think of Berkshire Hathaway VP Charlie Munger’s comments about crypto? Let us know in the comments section below.

Everyone Should Avoid Crypto ‘Like It’s An Open Sewer, Full Of Malicious Organisms’ – Featured Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v3.2″;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

Leave a Reply