Crypto is a ‘Disease’: Charlie Munger

The 'Two-Track Analysis' of Charlie Munger for making right decisions
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Crypto is a ‘Disease’: Charlie Munger

  • “I’m proud of the fact I’ve avoided it… it’s like some venereal disease,” Munger, 98, said about Bitcoin at the annual meeting of Daily Journal Corp.
  • “We’ve already got a digital currency, that’s called a bank account,” Munger said, adding that he believes people only adopted crypto because of its usefulness in illegal activities like extortion, kidnapping and tax evasion.
  • For that reason, Munger “admire[s] the Chinese” for banning cryptocurrencies, adding that “they were right” while the U.S. has been “wrong” to allow them and should implement a similar ban “immediately.”

[Via]

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