Friday, January 28

Charlie Munger again criticized cryptocurrencies What did he say this time?

Giving your opinion at the recent conference Sohn Hearts and Minds, Charlie Munger maintained his position of rejection towards the performance that digital assets have registered. It denoted their dissatisfaction with the largely volatile and poorly regulated scenario in which Bitcoin and other cryptocurrencies navigate.

Another onslaught against the crypto world

In recent days, the vice president of Warren Buffett’s Berkshire Hathaway firm, expressed an opinion that gives continuity to his positions previous. The billionaire has once again pointed out that Bitcoin and his peers represent an area in which he does not want to participate.

Observing the state of the cryptocurrency environment, Charlie Munger made clear his mistrust of the growth of digital assets. This, emphasizing the “madness” in which cryptocurrencies are involved. On this occasion, he mentioned his wish that these types of assets “had never been invented”.

Within the conference, he also showed his stance of rejection towards those who buy in the crypto world by inflating prices. By counterbalancing these behaviors, he reaffirmed his position of not acquiring them. “I will never buy a cryptocurrency,” he said.

Like this securities investor, Buffett confirmed his opinion contrary to the evolution that the crypto world has registered in recent years.

Endorsement of restrictions

While some countries maintain their support for the development and evolution of cryptocurrencies, Charlie Munger supported the nations that restrict them. In this sense, he expressed some satisfaction with the steps that China has taken to ban the crypto markets.

He pointed out that the United States is “weak” against the Asian country by not following its restrictive proposal to stop the rise in digital assets. To this opinion he added the fact that the volatility of the new market has free rein, with practically no government regulations.

“To the extent that my country does not do that, we are inferior to China,” said the billionaire investor.

He exclaimed that cryptocurrencies come from an “exuberance of capitalism”, reaching the point of being “harmful” for those who invest in them.

In this way, he emphasized his initiative not to use his money to buy crypto assets, mentioning that he only invests in “good things for people”. Munger does not believe that the crypto world is good, on the contrary, its structure is managed by people who are “thinking of themselves.”

“I just can’t stand participating in these insane booms, one way or another. It seems to be working; everyone wants to pile up, and I have a different attitude, “he commented on the matter.

While his opinion remains radically opposed to the aggrandizement of the crypto market, the upward trajectory does not seem to stop. Bitcoin, together with the other cryptocurrencies, presents some corrections to later break new barriers.