Find out what the right arm of “Warren Buffett” said about Bitcoin!
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Answer Find out what the right arm of “Warren Buffett” said about Bitcoin!
Before diving into the statement, we first know the authoritative, Mr. Charlie Munger, who is the right-hand man of Warren Buffett.
Charlie Munger is a 97-year-old American billionaire, investor, entrepreneur, former real estate attorney and architectural designer.
He is vice president of Berkshire Hathaway, the group controlled by Warren Buffett.
Buffett described Munger as his closest partner and right-hand man.
Munger served as Chairman of Wesco Financial from 1984 until 2011.
He is also the Chairman of the Board of Directors of the Los Angeles, California-based Daily Journal, and a former director of Costco Wholesale.
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Warren Buffett’s right-hand man’s statement about Bitcoin!
Yesterday at Berkshire Hathaway’s annual shareholder meeting, Munger spoke about Bitcoin:
Of course, I hate the success of Bitcoin, and I don’t welcome a coin that is useful to hijackers, extortionists, etc.
I also don’t like just funneling billions and billions of extra dollars into someone who just invented a new financial product out of thin air.
I think I must humbly say that I think all damned evolution is disgusting and against the interests of civilization.
Monger’s attacks on Bitcoin have angered the crypto community on Twitter.
A wave of attacks and harsh responses came to him accusing him of being a traditional person who defends drinking cola and does not know much about the digital economy.
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Munger’s statement is not that different from that of his friend Buffett, who once described Bitcoin as rat poison.
Buffett faced the same question as Munger about his opinion of Bitcoin, but he withheld his response and avoided answering out of respect for those who already own the currency.
But he was sarcasm in his answer, saying:
We have a choice of making 400,000 people angry at us and unhappy, or making two people happy, which is just a stupid equation.
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Buffett’s statement hints that the number of Bitcoin adopters and holders is relatively small, with those who view it as just a bubble.
It is worth noting that Buffett received Bitcoin for the first time in February 2020 at a charity dinner with Justin Sun, CEO of Tron, where Sun paid $4.6 million for the dinner.
But it seems that Buffett, despite receiving Bitcoin, did not change his opinion about the first digital currency in the crypto market, which managed to rise in its market value and exceed $1 trillion, which is many times the market value of Berkshire Hathaway.
Read also:
What if Warren Buffett invested in Bitcoin instead of investing in Bank J. B. Morgan
Bitcoin surges 350% since Warren Buffett described it as ‘rat poison’.
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