Charlie Munger Really Doesn't Like Bitcoin

Charlie Munger really doesn't like Bitcoin.

Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett's "right hand man", is 97 years of age.

Munger has never been one to hold his tongue - as a matter of fact, one of the highlights of Berkshire Hathaway's annual meetings is hearing Munger's acerbic takes on the current state of the financial world.

Over the past few years, attendants of the Berkshire Hathaway annual meetings have asked both Buffett and Munger about cryptocurrencies, and more specific, Bitcoin.

Buffett is usually diplomatic when responding to inquiries like this, choosing to use phrases like "outside my circle of competence" to bat the question away. Though, during an interview with CNBC in 2018, Buffett did say that Bitcoin was probably "rat poison squared", and that he would buy a five-year put on any cryptocurrency if he could.

Munger, on the other hand, has no problem telling the world exactly what he thinks about Bitcoin and other cryptocurrencies.

In addition to calling Bitcoin "rat poison", Charlie Munger also said that trading Bitcoin is like "trading turds".

Munger would go on to say that "Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it's the pursuit of the uneatable by the unspeakable".

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At the 2021 Berkshire Hathaway shareholder's meeting, Munger continued his attack against Bitcoin, calling it "disgusting" and "contrary to the interests of civilization".

He also said: "Of course, I hate the Bitcoin success".

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So, the next time that Bitcoin drops a bit in price, don't be expecting Charlie Munger to be buying the dip.

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