Charlie Munger has made it no secret that he is no fan of crypto.
The Berkshire Hathaway Vice Chairman said during a Daily Journal annual shareholder meeting on Feb. 15, that he was ashamed the US government has so far taken such a lenient approach at regulating it, preferring an all-out ban instead.
Munger said those who believe in crypto are “idiots,” adding that he sees no inherent value in the asset while adding that traditional currencies, on the other hand, have helped man evolve “from a successful ape to a [successful] human.”
“It [crypto] isn’t even slightly stupid, it’s massively stupid, and of course it’s very dangerous; the governments were totally wrong to permit it. And of course, I am not proud of my country for allowing this crap — well, I call it crypto shit. It’s worthless, it’s crazy, it’s not good, it’ll do nothing but harm, and it’s antisocial to allow it.”