Billionaire Charlie Munger: Cryptocurrency is 'crazy, stupid gambling,' and 'people who oppose my position are idiots'
Publishing timestamp: 2023-02-16 19:15:01
Summary
Charlie Munger, billionaire investor and vice chairman of Berkshire Hathaway, expressed his negative opinion of cryptocurrency during the annual shareholder meeting of Daily Journal Corporation. He called it "worthless" and "ridiculous" and said that those who oppose his opinion are "idiots". The crypto market has lost $2 trillion in the past year and Bitcoin has lost 60% of its value. The SEC is increasing its scrutiny of crypto-trading firms and investment advisors, and has proposed a law that would require crypto exchanges to hold their assets with federal- or state-chartered banks.
Sentiment: NEGATIVE
Tickers: BTC.CB=,
Keywords: charlie munger, cryptocurrency, berkshire hathaway, bitcoin/usd coinbase,