Charlie Munger calls digital currencies a destabilizing and unproductive financial invention
Charlie Munger, vice chairman of Berkshire Hathaway and long-time business partner of Warren Buffett, recently criticized Bitcoin and other cryptocurrencies in an interview with The Wall Street Journal. The 99-year-old investor believes that digital assets are a financially destructive invention without productivity and compared Bitcoin to a "foul ball" thrown into the refined formula of traditional finance. He emphasized the importance of strong currencies during the transition from primitive society to advanced civilization, and pointed out that the stability of currency is always the most important, whether it is shells or gold coins.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gaming Tokens Gain 28%, SAND, APE, and AKsS Lead Rally
Blockchain to be used to count votes in Romanian presidential elections
Sui Blockchain's Record Performance Sends Token Price to $3,46
CYBRO Shows 500% Growth Potential, Eclipsing Solana and Toncoin