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Cryptocurrency Comment by Warren Buffett's Right Hand

A cryptocurrency comment was made by Warren Buffett’s right hand. Charlie Munger smashed cryptocurrencies to the ground.

Cryptocurrency Comment by Warren Buffett's Right Hand
Yazar: Eylem Özer

Yayınlanma: 4 Aralık 2021 01:28

Güncellenme: 28 Mart 2024 12:05

Cryptocurrency Comment by Warren Buffett's Right Hand

A cryptocurrency comment was made by Warren Buffett’s right hand. Charlie Munger smashed cryptocurrencies to the ground. Charlie Munger, one of Warren Buffett's close colleagues, has been added to those who oppose cryptocurrencies. In his speech at the conference he attended in Australia, Munger said that the current environment for cryptocurrencies is “more extreme” than he has seen in the past.

China Got It Right

The 97-year-old US businessman, who also touched on the issue of cryptocurrencies, drew attention to the defense of China's bans. Munger said: “The dot-com bubble may seem more extreme in terms of prices, but I think the era we are in right now is even crazier than the dot-com bubble… There is a cryptocurrency bubble just as crazy right now. I will never buy cryptocurrencies. I wish they were never invented. "I think China made a very simple and right move. They just banned it and closed the issue. They prevented some of the excesses of capitalism. My country, the English-speaking civilization, did it wrong.” Stating that cryptocurrencies seem to work, but this is not true, Munger stated that he could not be involved in such madness with the following words: " I just can't stand to participate in these crazy balloons. They seem to work, but they are not. Everyone wants to be involved from somewhere, but my style is different. I want to make money by selling things that will benefit people. The creators and issuers of cryptocurrencies are thinking about themselves, not the buyers, believe me."
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