Bitcoin

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<p>Charlie Munger, Berkshire Hathaway's vice chairman and Warren Buffett’s long-time business partner, <a href="https://twitter.com/NateGeraci/status/1721002360724504611" rel="noopener noreferrer nofollow">delivered</a> a sharp critique of Bitcoin and other cryptocurrencies in a recent interview with the Wall Street Journal.</p>
<p>The 99-year-old investor, whose net worth hovers near $3 billion, did not mince words when discussing the digital asset class, which he views as a destabilizing and unproductive financial invention.</p>
<h2 id="munger-s-sharp-criticism">Munger's sharp criticism</h2>
<p>Munger likened the introduction of <a href="https://u.today/bitcoin-btc-remains-strongest-asset-for-institutions-microstrategys-michael-saylor-shows" rel="noopener noreferrer nofollow">Bitcoin</a> to throwing a "stink ball" into a well-refined recipe of traditional finance.</p>
<p>He underscored the importance of a strong currency in the transition from primitive societies to advanced civilizations, pointing out that whether it is seashells or gold coins, the currency's solidity has always been paramount.</p>
<p>Munger's colorful language conveys his belief that Bitcoin, as an "artificial" currency, disrupts a financial system that has long served its purpose effectively.</p>
<p>Earlier statements from <a href="https://u.today/elon-musk-reveals-crypto-hater-charlie-mungers-big-mistake" rel="noopener noreferrer nofollow">Munger</a> have echoed this recent critique, with a notable increase in intensity. He has previously called for an outright ban on Bitcoin and similar digital assets, likening them to <a href="https://u.today/elon-musk-reveals-crypto-hater-charlie-mungers-big-mistake" rel="noopener noreferrer nofollow">"gambling contracts"</a> rather than legitimate investments.</p>
<h2 id="munger-s-investment-advice">Munger's investment advice</h2>
<p>During the recent interview, Munger suggested that the average investor might best be served by putting their money into <a href="https://u.today/why-crypto-index-funds-are-things-of-the-future-past-ico-review" rel="noopener noreferrer nofollow">index funds</a>.</p>
<p>Just as one would not design their own household appliances without expertise, there's little reason to pick individual stocks without a distinct advantage, the investing legend notes.</p>

Warren Buffett's Right-Hand Man Slams Bitcoin

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