DHL 3-7 days WA/Telegram: +8613225326119

Charlie Munger: bitcoin rat poison sage


Charlie Munger, Buffett's long-time partner and vice chairman of Berkshire Hathaway, died on Tuesday at the age of 99.

 

Charlie Munger: bitcoin rat poison sage

Regardless of his stance on Bitcoin (the aphorism-loving, bitcoin-hating sage behind Warren Buffett), with Munger’s passing, this is definitely the end of an era. I loved listening to him talk and I still own every edition of Poor Charlie's Almanack.

If people investing in Bitcoin consider themselves investors, then they should consider what Munger and Buffett are doing, as they are the ultimate long-term holders.

Munger is known for his significant contributions to the investment community and his work with Buffett at Berkshire Hathaway. At the same time, he is also one of the most outspoken critics of Bitcoin and cryptocurrencies.

"New financial products created out of nothing", this sentence fully expresses Munger's disdain for Bitcoin. He called Bitcoin "obnoxious and contrary to the interests of civilization" and criticized its extreme volatility and lack of regulation.

He also expressed concern that Bitcoin is being exploited by criminals such as kidnappers and extortionists.

Munger dismissed the idea that Bitcoin could become a global medium of exchange, citing its volatility. He has even called for the United States to ban cryptocurrencies and has repeatedly publicly praised China’s approach to cryptocurrencies.

Blackrock now coming after Charlie Munger gone..

Blackrock now coming after Charlie Munger gone...

Won’t BlackRock/JPMorgan/Goldman Sachs cheat on Bitcoin like they did with gold and commodities? And drive the price down to nothing? I'm curious.

But I don't think this manipulation scheme can work for Bitcoin the same way it does for gold/silver, due to the nature of Bitcoin itself. Unlike gold, Bitcoin is fully fungible, divisible and highly liquid. Paper gold exists as an investment and is very popular because physical gold lacks fungibility, divisibility and liquidity.


Leave a comment


Please note, comments must be approved before they are published