Charlie Munger, vice president of Berkshire Hathaway, said at the annual shareholder meeting in Los Angles that Bitcoin and other cryptocurrencies should be banned immediately and other countries should follow China’s policies.
“I wish it was banned as soon as possible. I admire the Chinese who ban crypto”
Munger also expressed his “proud” that he has stayed away from crypto assets all these years.
The 98-year-old billionaire made harsh statements comparing crypto to venereal diseases. Munger has compared Bitcoin to bits before.
According to the billionaire, cryptocurrencies are only useful for things like extortion, kidnapping and tax evasion.
Munger also expressed his discomfort due to the proliferation of altcoins, saying that people created their own cryptocurrencies out of jealousy.
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