Charlie Munger slams BTC and other cryptocurrencies

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Charlie Munger slams BTC and other cryptocurrencies

06-05-2022 13:44

Charlie Munger slams BTC and other cryptocurrencies

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Charlie Munger slams BTC and other cryptocurrencies

Berkshire Hathaway Inc. Chairman and CEO Warren Buffett and his right-hand man Charlie Munger suppose that BTC is highly likely to drop to zero. Charlie Munger considers the number one cryptocurrency to be worthless.

According to the announcement made by Berkshire's Vice Chairman Charlie Munger, bitcoin undermines the US Fed and threatens the US economy. Warren Buffett also supported this idea, saying that it was very difficult to make long-term forecasts for BTC.

The billionaire and CEO of Berkshire Hathaway has no intention to buy any cryptocurrency even if it costs just $25. "If you told me you owned all of the bitcoin in the world, and you offered it to me for $25, I wouldn't take it because what would I do with it?” Warren Buffett said. Notably, in February this year, Charlie Munger called bitcoin a “rat poison squared”.

A bit earlier, Warren Buffett expressed his unwillingness to invest in crypto assets. He doubts that BTC will see a rosy future.

In February 2021, bitcoin also disappointed Nassim Taleb, finance professor, writer, and former Wall Street trader. Notably, it was Nassim Taleb who popularized the term “black swan”. He thinks that this cryptocurrency is extremely volatile. What is more, most experts predict that the crypto market bubble may burst before 2032.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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