He serves as Berkshire Hathaway’s vice chair and second-in-command after Warren Buffett, Charlie Munger, has been one of crypto’s most vociferous critics. In his most recent interview with the Australian Financial Review, he advised to “never touch” cryptocurrency.
The 98-year-old pragmatist investor describes the cryptocurrency market as a “sewer” full of dishonest people peddling virtual currency with no real market value.
“Crypto is an investment in nothing, and the guy who’s trying to sell you an investment in nothing says, ‘I have a special kind of nothing that’s difficult to make more of’.
Frequently referred to as Warren Buffett’s right-hand man, Munger said he ignores macroeconomic trends and is not “overly concerned” about inflation.
Munger agrees with Buffett that stocks of companies that actually generate cash are superior investments. He insisted, “Stocks have a real interest in real businesses.”
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He believes that anyone who purchases or sells cryptocurrency is undermining the existing monetary system.
Munger is adamant and warns that the “crypto craze” is a mass mistake.
“I think anybody that sells this stuff is either delusional or evil. I won’t touch the crypto.
