Charlie Munger Mocks Crypto Community: Bitcoin Investment Is The Stupidest Investment I've Ever Seen

Charlie Munger, Warren Buffet's confidant at Barkshire Hathaway. (Photo; Doc. Bitcoin.com)

JAKARTA - Charlie Munger, deputy chairman of Berkshire Hathaway and Warren Buffett's right-hand man, once again issued scathing criticism of cryptocurrencies, especially Bitcoin. Munger expressed his belief that most of the investments in crypto would become worthless, and he described Bitcoin as "the shopper's investment I've seen."

He made the statement while speaking at the Zoomtopia conference. Munger also made a firm statement, saying that most investments in crypto would end up at zero.

These twists are not the first for Munger. Previously, he had referred to Bitcoin as "rat poison" and likened it to "drug trafficking."

In February, he considered it ridiculous for people to invest in Bitcoin and was concerned that many people believed in this digital currency. Munger also voiced his concern about government regulations that allow crypto to remain.

In July last year, Munger even advised everyone to avoid crypto as if it was something that should be avoided completely. He stated that crypto is an "open disposal channel full of evil organisms" and likened it to "genital disease." In addition, he hopes that cryptocurrencies are "Never found" and states that their development is against the interests of civilization.

For additional information, Warren Buffett is Munger's business partner at Berkshire Hathaway, also shared his skeptical views on Bitcoin and cryptocurrencies. Buffett once called Bitcoin a "square rat poison" and compared it to a "trunter token." He argued that Bitcoin "did not produce anything" and even if someone offered him all the Bitcoins in the world at the price of $25 (Rp. 392 thousand), he would not accept it.

Although there are many supporters and critics in the crypto world, Munger and Buffett's opinion remains in the spotlight as they are two prominent figures in traditional financial world who remain skeptical of the flow of fiat changes from banknotes to digital.