Charlie Munger: Digital currencies are a destabilizing and unproductive financial invention

Berkshire Hathaway Vice Chairman Charlie Munger once again issued sharp criticism of Bitcoin and other cryptocurrencies in a recent interview with the Wall Street Journal. He views digital assets as a destabilizing and unproductive financial invention and likens the emergence of Bitcoin to throwing a "stinky ball" into the refined recipe of traditional finance. He emphasized the importance of strong currency in the transition from primitive society to advanced civilization, noting that whether it was shells or gold coins, the solidity of currency was always the most important. (U.Today) Previously, Charlie Munger criticized cryptocurrencies in a Zoom meeting. Asked about his views on Bitcoin and other cryptocurrencies, he noted: “Don’t get me talking about Bitcoin, it’s the dumbest investment I’ve ever seen. Most investments are going to zero.”