Munger said he “hates the success of Bitcoin” and claimed he felt disgusted at its success and believe it … Charlie Munger is the Vice-Chairman of Berkshire Hathaway and Warren Buffett’s long-time business partner. This is down from the 23.581 trillion difficulty Bitcoin set nearly two weeks ago, an all-time high. Berkshire Inc. Vice Chairman Charlie Munger isn't warming to bitcoin. Munger was less diplomatic: He said he hates bitcoin’s recent gains, arguing the currency was “created out of thin air” and is a go-to payment method for criminals. Berkshire Hathaway CEO Warren Buffett and vice chairman Charlie Munger attend an annual shareholders ... [+] meeting in Omaha, Nebraska on May 3, 2019. Crucial Quote meeting in Omaha, Nebraska on May 3, 2019. I am a breaking news reporter at Forbes. ... All quotes are in local exchange time. Munger, in contrast, was in no mood to hold back, saying that the question was like waving a “red flag” in front of a bull: Bitcoin “I don’t think bitcoin is going to end up the medium of exchange for the world. The Leukemia & Lymphoma Society BrandVoice, BTS Own 80% Of The Top Five On This Week’s World Albums Chart, San Diego Overturned Ship: 3 Dead, 27 Sent To Hospital, Officials Say, Africa Needs Electricity Now More Than Ever, Especially To Keep COVID-19 Vaccines Cold, Coronavirus Cases Will Continue To Decline Thanks To Aggressive Vaccinations, Former FDA Head Says, Israel Reports Just 13 New Coronavirus Cases, The Lowest Number In Over A Year, China’s New Privacy Regulation Reforms Tech Giants Social Retail Scene, U.S. And U.K. Push Back On Iran’s Claims They Will Pay Billions For Prisoner Swap, What’s At Stake For Lakers, Jazz, Suns, Clippers, Nuggets, Mavs, Blazers In NBA Regular Season’s Final Weeks. ”, Munger’s remarks came in response to a question at Berkshire’s Charlie Munger calls bitcoin 'disgusting and contrary... CNBC - Yun Li • 2h. Before moving to New York, he reported for MarketWatch from Frankfurt, London and Washington, D.C. All Rights Reserved, This is a BETA experience. Over the past few years, Munger has been a harsh critic of Bitcoin. William Watts is MarketWatch’s senior markets writer. Would you please help me to find citations? “ ET By. U.S. stocks have risen to all-time highs this year. It seems safe to say that Berkshire Hathaway Inc. Vice Chairman Charlie Munger’s cryptocurrency skepticism hasn’t been softened by the rally in prices for bitcoin and other digital assets. Charlie Munger, the vice-chairman of Berkshire Hathway made headlines yesterday during the shareholders meeting when the inevitable question about Bitcoin came up. Both Charlie Munger … I previously covered local news for the Boston Guardian, and I graduated from Tufts University in 2019. It’s too volatile to serve well as a medium of exchange.”. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil. BRK.A, The inevitable question came up about Bitcoin (CRYPTO: BTC) during today's Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B) 2021 shareholders meeting with Warren Buffett and Charlie Munger. -1.00%, Gerard Miller | CNBC Berkshire Hathaway Vice Chairman Charlie Munger’s distain toward bitcoin has only intensified amid the digital asset’s record run this year. Berkshire Hathaway Vice Chairman Charlie Munger's distain toward bitcoin has only intensified amid the digital asset's record run this year. There's danger in just shoveling out money to people who say, 'My life is a little harder than it used to be.'. Berkshire Hathaway returns to quarterly profit on insurance and stock-market gains, ‘I’ve learned how much I don’t know’ about bitcoin, says investor Howard Marks, Berkshire Hathaway’s Earnings Show Warren Buffett’s Company Is on a Roll. Munger was less diplomatic: He said he hates bitcoin’s recent gains, arguing the currency was “created out of thin air” and is a go-to payment method for criminals. Nor do I like just shoveling out a few extra billions and billions of dollars to somebody who just invented a new financial product out of thin air. Munger and Chairman Warren Buffett were asked about their feelings regarding rising cryptocurrency values given Munger’s previous characterization of bitcoin as worthless, “artificial gold.”, Read: Berkshire Hathaway returns to quarterly profit on insurance and stock-market gains. “Of course I hate the bitcoin success,” the 97-year-old Munger said during a Q&A session at Berkshire’s annual […] Bitcoin traded at around $29,000 at the beginning of 2021 and for around $8,000 a year ago. "Of … "I knew there’d be a question on bitcoin, and I thought to myself, 'Well, I’ve watched these politicians dodge questions all the time, you know, I find it kind of disgusting, but they … Related: Bitcoin’s Success Is ‘Disgusting’: Berkshire’s Charlie Munger. Berkshire Hathaway Vice Chairman Charlie Munger railed against bitcoin in Berkshire’s annual meeting Saturday, calling the cryptocurrency — which Munger and longtime partner Warren Buffett have excoriated for years — “disgusting and contrary to the interests of civilization.”. Charlie Munger at Berkshire Hathaway’s annual meeting in Los Angeles California. Charlie Munger says bitcoin’s rise ‘disgusting and contrary to interests of civilization’ Published: May 2, 2021 at 2:01 p.m. Topline Berkshire Hathaway Vice Chairman Charlie Munger railed towards bitcoin in Berkshire’s annual assembly Saturday, calling the cryptocurrency — which Warren Buffett’s Deputy Calls Bitcoin ‘Disgusting’ And Bad For Civilization - Cryptocasting Bitcoin enthusiasts believe the cryptocurrency is gaining traction with mainstream users as a means of payment, but critics warn its astronomical prices are the result of speculation and it remains too volatile to serve as a widely adopted currency. CoinDesk. MUMBAI: Legendary investor Charlie Munger of Berkshire Hathaway is not happy with the success of cryptocurrencies like Bitcoin and Ethereum, as he sees them as “contradictory to the development of civilisation.” Cryptocurrency assets such as Bitcoin and Ethereum are now worth more than $2 trillion within just 12 years of their birth. “Of course I hate the bitcoin success,” the 97-year-old Munger said during a Q&A session at Berkshire’s annual […] Related: Bitcoin’s Success Is ‘Disgusting’: Berkshire’s Charlie Munger. Bitcoin. See: ‘I’ve learned how much I don’t know’ about bitcoin, says investor Howard Marks. Munger’s Thoughts say Nay to Bitcoin. At Berkshire Hathaway’s annual shareholder meeting Saturday, Vice Chairman Charlie Munger commented about bitcoin. BRK.B, May 1, 2021. “I think the whole damn development is disgusting and contrary to the interests of civilization.”, “I’m gonna dodge that question,” Buffett said. May 1, … Charlie Munger at Berkshire Hathaway's annual meeting in Los Angeles California. “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth,” Munger said. During a live question-and-answer session Saturday, an investor challenged Buffett and Munger on their well-documented skepticism of cryptocurrency, especially bitcoin, whose price has surged more than sixfold over the last year. He also writes about global macro issues and trading strategies. You may opt-out by. So we got a choice of making 400,000 people mad at us and unhappy…or making two people happy, and that’s just a dumb equation,” Buffett joked. Apparently, Munger said bitcoin was rat poison, and Buffett went further and said it was rat poison squared. Billionaire value investor Charlie Munger, the 97-year-old Vice Chairman of Berkshire Hathaway, shared his latest thoughts on Bitcoin on Wednesday (February 24) while speaking at the Annual Meeting of Shareholders of the Daily Journal Corporation.. A Recap of Munger’s Past Comments on Crypto. MUMBAI: Legendary investor Charlie Munger of Berkshire Hathaway is not happy with the success of cryptocurrencies like Bitcoin and Ethereum, as he sees them as “contradictory to the development of civilisation.” Cryptocurrency assets such as Bitcoin and Ethereum are now worth more than $2 trillion within just 12 years of… Charlie Munger is the Vice-Chairman of Berkshire Hathaway and Warren Buffett's long-time business partner. Bitcoin’s Success Is ‘Disgusting’: Berkshire’s Charlie Munger. Munger is also the chairman of Daily Journal Corporation which has been publicly traded since 1987 on the NASDAQ. ‘Of course, I hate the bitcoin success and I don’t welcome a currency that’s useful to kidnappers and extortionists, and so forth. Gerard Miller | CNBC Berkshire Hathaway Vice Chairman Charlie Munger’s distain toward bitcoin has only intensified amid the digital asset’s record run this year. Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett's "right hand man", is 97 years of age. I previously covered local news for the Boston Guardian, and I graduated from Tufts University in 2019. “I don’t welcome a currency that’s so useful to kidnappers and extortionists,” Munger said. “We’ve probably got hundreds of thousands of people watching this that own bitcoin, and we’ve probably got two people who are short. Should you ‘sell in May and go away’? Over the past few years, Munger has been a harsh critic of Bitcoin. he impact of special-purpose acquisition vehicles, or SPACs, Warren Buffett warns investors not to gamble on stocks, ‘This is not going to end well’: Billionaire Leon Cooperman says stock market will be lower a year from now. I take my kids on trips. At Berkshire Hathaway’s annual shareholder meeting Saturday, Vice Chairman Charlie Munger commented about bitcoin. Berkshire Hathaway Vice Chairman Charlie Munger's distain toward bitcoin has only intensified amid the digital asset's record run this year. Legendary stock market investors Warren Buffet and Charlie Munger spoke at Berkshire Hathaway’s annual meeting, talking briefly about cryptocurrencies and the effects of the new trading era on the global psyche. Charlie Munger really doesn't like Bitcoin. While this year’s event was the second in a row to be held virtually due to the COVID-19 pandemic, Buffett and Munger tackled a range of queries in a 3 1/2-hour question-and-answer session. May 1, 2021. ‘I was discarded after 40 years of marriage’: Can my ex-husband file a joint tax return without my consent? © 2021 Forbes Media LLC. A must-watch for investors everywhere . Buffett and Munger are unusually vivid in their disgust for bitcoin, but they’re not the only people to question it. Berkshire’s Charlie Munger: ‘Bitcoin is worthless, artificial gold’ (CNBC), I am a breaking news reporter at Forbes. So we have a choice of making 400,000 people mad at us and unhappy, or making two people happy, and that’s just a dumb equation.”, Bitcoin skepticism isn’t a new position for the two leaders of Berkshire Hathaway. Barron’s on MarketWatch: Berkshire Hathaway’s Earnings Show Warren Buffett’s Company Is on a Roll. Many of the questions were specific to Berkshire, with Buffett pushing back against criticism of the company’s sale of its stakes in airlines during the height of the pandemic. Charlie Munger really doesn't like Bitcoin. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth. Bitcoin (COIN:BTCUSD) Intraday Stock Chart You can contact me at jwalsh@forbes.com. ... Warren Buffett and Charlie Munger at Berkshire Hathaway's annual meeting. annual shareholder meeting on Saturday. Munger’s Thoughts say Nay to Bitcoin. My mother says that’s crazy and I should be saving for a house. -0.95% So it is a speculation, which may or may pay off, rather than an investment. Other topics, included rising short-term trading activity by individual investors, the impact of special-purpose acquisition vehicles, or SPACs, on the deal-making environment, signs of inflation in the economy and the morality debate around share buybacks. Copyright © 2021 MarketWatch, Inc. All rights reserved. Berkshire Inc. Vice Chairman Charlie Munger isn't warming to bitcoin. Legendary investor Warren Buffett, the CEO of Berkshire Hathaway (BRK-B, BRK-A), and his long-time business partner Charlie Munger dissed bitcoin once more at the annual meeting of shareholders on Saturday. Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, says he hates bitcoin’s success. Charlie Munger. Bitcoin: * Pays no yield * Pays no coupon * Pays no dividend Therefore, the “assets” doesn’t yield anything. Stock market peak? Charlie Munger at Berkshire Hathaway’s annual meeting in Los Angeles California. Munger was responding to a question whether, according to him, Bitcoin to hit $50,000 was crazier or Tesla to get to a $1 trillion fully diluted enterprise value. MUMBAI: Legendary investor Charlie Munger of Berkshire Hathaway is not happy with the success of cryptocurrencies like Bitcoin and Ethereum, as he sees them as “contradictory to the development of civilisation.” Cryptocurrency assets such as Bitcoin and Ethereum are now worth more than $2 trillion within just 12 years of their birth. So I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization. Munger was asked if bitcoin could be one of the biggest competitive threats to US banks. Berkshire Hathaway Vice Chairman Charlie Munger slammed bitcoin at the company's annual meeting, saying bitcoin investors share the values of Judas Iscariot. Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett's "right hand man", is 97 years of age. Buffett dodged the question, joking that he’ll anger bitcoin owners if he criticizes it. The 97-year-old said during a Q&A session: Of course I hate the bitcoin success. Charlie Munger calls bitcoin 'disgusting and contrary... CNBC - Yun Li • 2h. Billionaire value investor Charlie Munger, the 97-year-old Vice Chairman of Berkshire Hathaway, shared his latest thoughts on Bitcoin on Wednesday (February 24) while speaking at the Annual Meeting of Shareholders of the Daily Journal Corporation.. A Recap of Munger’s Past Comments on Crypto. Munger is also the chairman of Daily Journal Corporation which has been publicly traded since 1987 on the NASDAQ. The 97-year-old Munger has long criticized bitcoin for its extreme volatility and a lack of regulation. The digital asset was trading near $56,700 at midday Sunday, down around 1.7% over the last 24 hours, according to CoinDesk. The post Bitcoin is a 'disgusting' product that comes 'out of thin air,' says Charlie Munger appeared first on CoinTelegraph. Topline Berkshire Hathaway Vice Chairman Charlie Munger railed against bitcoin in Berkshire’s annual meeting Saturday, calling the cryptocurrency — which M Warren Buffett’s Deputy Calls Bitcoin ‘Disgusting’ And Bad For Civilization » Bitcoin-Accepted.com I’m a single mom. Read full article. Buffett, who over the years has previously described the crypto as “rat poison squared” and a “delusion,” with “no unique value at all,” said he would “dodge” the question, reckoning that the vast majority of investors watching the meeting online were likely bitcoin holders. -1.29% The 97-year-old said during a Q&A session: Of course I hate the bitcoin … They keep raising the prices to the point when the odds change. There is something which people can’t escape from. This is down from the 23.581 trillion difficulty Bitcoin set nearly two weeks ago, an all-time high. Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, says he hates bitcoin’s success. Buffett has called bitcoin a “delusion” and “rat poison,” and he vowed last year to never own any cryptocurrencies, arguing they attract charlatans and “basically have no value.” Munger, for his part, has called bitcoin “artificial gold” and insisted its volatility makes it useless as a means of exchange, and he’s compared crypto investing to “trading turds.”. BTCUSD, Read: Warren Buffett warns investors not to gamble on stocks. At a certain place you've got to say to the people, 'Suck it in and cope, buddy. You can contact me at. Charlie Munger calls bitcoin 'disgusting and contrary... CNBC - Yun Li • 14h. Berkshire Hathaway Vice Chairman Charlie Munger's distain toward bitcoin has only intensified amid the digital asset's record run this year. Quote Investigator: Berkshire Hathaway Chairman Warren Buffett and Vice Chairman Charlie Munger have employed a sequence of hostile colorful expressions to decry bitcoin. “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth,” Munger said. "I knew there’d be a question on bitcoin, and I thought to myself, 'Well, I’ve watched these politicians dodge questions all the time, you know, I find it kind of disgusting, but they … Charlie Munger, the vice-chairman of Berkshire Hathway made headlines yesterday during the shareholders meeting when the inevitable question about Bitcoin came up. Charlie Munger and Warren Buffett spared no energy bashing Bitcoin and the entire cryptocurrency industry, yet again. In May 2013 Fox Business journalist Liz Claman conducted a joint interview with Charlie Munger, … Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, on Wednesday dismissed the rocketing share price of Tesla and the recent bitcoin … Munger was responding to a question whether, according to him, Bitcoin to hit $50,000 was crazier or Tesla to get to a $1 trillion fully diluted enterprise value. “We probably got hundreds of thousand of people watching that own bitcoin, and we probably have two people that are short. Charlie Munger Hates Bitcoin’s Success. Munger said he “hates the success of Bitcoin” and claimed he felt disgusted at its success and believe it … Tesla at $1 trillion or Bitcoin at $50,000: Berkshire Hathaway’s Charlie Munger doesn’t know what’s worse By Fe Online 4 minutes ago I think I should say modestly that the whole damn development (Bitcoin) is disgusting and contrary to the interests of civilization,“ said Berkshire Hathaway's Munger. The price of bitcoin is up better than 500% in that same time period. Legendary investor Warren Buffett, the CEO of Berkshire Hathaway (BRK-B, BRK-A), and his long-time business partner Charlie Munger dissed bitcoin once more at the annual meeting of shareholders on Saturday. NIO stock closed higher for a seventh consecutive session on Monday, even without developments that would significantly affect earnings. He tried to take both my stimulus checks, These 3 alternative income streams may boost portfolio returns, Disney fan complains that Walt Disney World is becoming too ‘woke’ — here’s what’s changed at the park and why. And I’ll leave the criticism to others.’ ‘Easy money’ has been made but room for more gains, strategists say, Charlie Munger ‘hates’ bitcoin’s rise: ‘disgusting and contrary to interests of civilization’. which is notoriously volatile, has rallied over the past year, topping $60,000 for the first time in March before a pullback that took it briefly below $50,000 earlier this month. What do you think? Thousand of people watching that own bitcoin, and Buffett went further and said charlie munger bitcoin quote rat. % in that same time period Hathaway and Warren Buffett and Charlie Munger have employed a sequence hostile... That I think the whole damn development is Disgusting and contrary... CNBC Yun... 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