A famous investor who was a business partner of Warren Buffet said that the price of Bitcoin is “go to zero” and described the cryptocurrency market as a “venereal disease“.
Famed investor Charlie Munger, 98, who is vice chairman of Berkshire Hathaway and chairman of the Daily Journal, said in an interview with Yahoo that he has no regrets regarding not investing in the market emerging from cryptocurrency. Munger says he hasn’t invested in crypto and is proud to have avoided it, describing it as a “venereal disease“. The famous investor goes on to say that cryptocurrencies are regularly used for illegal activities such as extortion and tax evasion.
Munger says he “admire the chinese people“for banning cryptocurrencies and that the United States was”tort” in his decision to allow them. Munger was asked to comment on the price of the biggest and most famous cryptocurrency, Bitcoin, where he said that the price of digital currency “goes to zero” over the next 100 years. Munger has long been an advocate for banning cryptocurrencies and wished they were banned”immediately“. Finally, Munger warned investors not to treat the stock market as a “game room“.
Read more: Here’s why Bitcoin just took a huge price hit
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