Berkshire Hathaway Inc (NYSE:BRK.A)’s nonagenarian vice chair and Warren Buffett’s lieutenant Charlie Munger has provided a few vague hints at his thoughts on bitcoin and cryptocurrency technology in a recent shareholder live stream with The Daily Journal, of which he is a board member.
Munger, it seems, has a few bones to pick with the US not cracking down harder on “crypto shit”.
“I am not proud of my country for allowing this crap,” stated Munger. “It's worthless, it's crazy, it's not good, it'll do nothing but harm, it's antisocial to allow it."
Traditional currencies, on the other hand, have helped turn man from a “successful ape to a (successful) human”.
He's previously likened bitcoin to a “venereal disease” and people “idiots” for opposing his position, while praising China for cracking down on the asset class.
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Munger’s Sinophilia is well documented, having praised communist China for “being smarter about handling booms than capitalist America” and calling former paramount leader Deng Xiaoping, who led the Tiananmen Square crackdown, “one of the world’s greatest leaders”
Continuing his most recent missive, Munger called cryptocurrencies “massively stupid” and “very dangerous”.
“I’m ashamed of my country that so many people believe in this kind of crap and the government allows it to exist," he proclaimed.
OK Charlie, stop beating around the bush and tell us how you really feel.