Berkshire's Charlie
Berkshire’s Charlie Munger Likes the Fed, Hates Bitcoin Promoters, Calls Tesla’s Success a Miracle
Published
1 year agoon
By
adminBerkshire Hathaway president Charlie Munger, Warren Buffett’s man Friday, has commented on the collapse of crypto exchange FTX, stating that “it is part fraud and part delusion.” Noting that “the country failed to want a currency that’s sensible for kidnappers,” he stressed: “I primarily just like the existence of the Fed … I hate bitcoin promoters.” He jointly affirmed that Tesla’s success may be a “minor miracle.”
Berkshire’s Charlie Munger on Bitcoin, FTX Collapse, the Fed, Tesla, and Elon Musk
Charlie Munger, Warren Buffett’s man Friday and old business partner, has created recent comments concerning bitcoin and also the collapse of crypto exchange FTX.
“It pains American state that in my very own country, I see folks that were once considered terribly honored individuals serving to this stuff exist,” the 98-year-old Berkshire Hathaway president aforesaid, adding:
“This is a very bad thing. The country did not need a currency that’s good for kidnappers and so on.”
He noted that it depresses him that some individuals assume “they gotta get on each deal that’s hot and that they don’t care whether or not it’s kid harlotry or bitcoin.”
He continued: “If it’s hot, they need to get on it. I believe that’s completely crazy. name is extremely useful in money life and to destroy your name by associating with scum balls and scum ball promotions, it’s a large mistake.”
When asked concerning whether or not the businesses that invested with in FTX did any due diligence, Munger said:
You’re seeing tons of delusion. It’s part fraud and part delusion. That’s a nasty combination. I don’t like either fraud or delusion and also the delusion perhaps a lot more extreme than the fraud.
“Nobody’s reaching to be in a very new issue that each 12-year-old child is a rich person or one thing,” he delineated, adding that he will simply produce a coin, decide it is a Munger coin, and begin commercializing it. “It’s crazy, it’s unbalanced.”
Munger conjointly said:
I primarily just like the existence of the Fed. I believe in a very world of fiat currencies, we’d like wise central banks … Thus by and large, I prefer central bankers, and by and huge I hate bitcoin promoters.
The Berkshire Hathaway president has ne’er been an admirer of bitcoin or crypto. He antecedently referred to bitcoin as “rat poison” and “contrary to the interest of civilization.” He even compared cryptocurrency to contagious disease. In July, he advised: “I simply avoid it as if it were an open sewer, choked with malicious organisms. I simply completely avoided and counseled everyone else to follow my example.” The Berkshire Hathaway government believes that governments ought to ban bitcoin.
Munger conjointly shared his opinion concerning Tesla and its business executive Elon Musk. He said:
I was definitely shocked that Tesla did further because it did, however I don’t equate Tesla with bitcoin.
“Tesla has created some real contributions to the present civilization. Elon Musk has done some good things that people couldn’t do … we have a tendency to haven’t had a flourishing new company in a very long, long time, however what Tesla has exhausted the automobile business may be a minor miracle,” he opined.
The post Berkshire’s Charlie Munger Likes the Fed, Hates Bitcoin Promoters, Calls Tesla’s Success a Miracle first appeared on BTC Wires.
Source link
You may like
Ethereum Showing Serious Strength as One Low-Cap Altcoin Flashes Bullish Signal for First Time Since 2022: Analyst
Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?
Consensys Takes Legal Action Against SEC to Safeguard U.S. Ethereum Community – Blockchain News, Opinion, TV and Jobs
Billion-Dollar Bank Paying $700,000 Penalty for Illegally Freezing Accounts, Transferring Customers’ Cash to Debt Collectors
MetaWin Founder Launches $ROCKY Meme Coin on Base Network – Blockchain News, Opinion, TV and Jobs
Forget Meme Coins And NFTs, RWA And DePin Are The Next Big Things – Blockchain News, Opinion, TV and Jobs
Ethereum Showing Serious Strength as One Low-Cap Altcoin Flashes Bullish Signal for First Time Since 2022: Analyst
Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?
Consensys Takes Legal Action Against SEC to Safeguard U.S. Ethereum Community – Blockchain News, Opinion, TV and Jobs
Billion-Dollar Bank Paying $700,000 Penalty for Illegally Freezing Accounts, Transferring Customers’ Cash to Debt Collectors
MetaWin Founder Launches $ROCKY Meme Coin on Base Network – Blockchain News, Opinion, TV and Jobs
Forget Meme Coins And NFTs, RWA And DePin Are The Next Big Things – Blockchain News, Opinion, TV and Jobs
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
Legendary Trader Predicts When Bitcoin’s Bull Run Will End
JPMorgan Chase CEO Warns Multiple Headwinds Threaten US Economy, Urges Investors To Avoid ‘False Sense of Security’
Ethereum Price Reverse Gains, Can ETH Bulls Save The Day?
Most Altcoins in ‘Historic Position’ to Rally As Traders Realize Heavy Losses Over the Past Month: Santiment
Analyst Predicts Potential Climb to $16
US National Debt Surges $273,859,000,000 in Two Months As Billionaire Leon Cooperman Warns Nation Heading Toward Financial Crisis
Bitcoin Daily Transactions Just Hit A New ATH
Bitcoin Could Witness Repeat of November 2020 Parabolic Rally Amid Max Price Compression, Says Analyst
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
BNM DAO Token Airdrop
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
New Minting Services
Block News Media Live Stream
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs
Friends or Enemies? – Blockchain News, Opinion, TV and Jobs
Enjoy frictionless crypto purchases with Apple Pay and Google Pay | by Jim | @blockchain | Jun, 2022
Block News Media Live Stream
Block News Media Live Stream
How Web3 can prevent Hollywood strikes
XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board
Block News Media Live Stream
Trending
- Altcoins2 years ago
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
- Binance2 years ago
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
BNM DAO Token Airdrop
- BTC1 year ago
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
New Minting Services
- Video1 year ago
Block News Media Live Stream
- Bitcoin miners2 years ago
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
- Bitcoin1 year ago
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs