Charlie Munger portrays BTC investors as Judas Iscariot

Charlie Munger portrays BTC investors as Judas Iscariot

Billionaire Charlie Munger has said bitcoin investors “celebrate the life and work of Judas Iscariot.” Its unsurprising to find that he’s the vice chairman of Berkshire Hathaway, the conglomerate headed by Warren Buffett, the man who compared BTC to rat poison.

Here we have another wealthy old man deriding cryptocurrency. He said that buying into the asset class was “just dementia” and his view of professional cryptocurrency traders is less than flattering: “I think the people who are professional traders that go into trading cryptocurrencies, it’s just disgusting. It’s like somebody else is trading turds and you decide, ‘I can’t be left out.’”

And Warren Buffet has added to his “rat poison squared” quote to add that BTC is like a seashell that “just sits there.” “It’s like a seashell or something, and that is not an investment to me,” Buffett said.

But, Chamath Palihapitiya, a self-professed “disciple” of investors Warren Buffett and Charlie Munger, commented that the two crypto skeptics are wrong about bitcoin. Regarding Munger, Palihapitiya said, “I think it’s really unfair to not understand something, and then to disparage it.” Perhaps he isn’t so much of a disciple after all?

In the comments section of Cointelegraph, one reader wrote: “These types are endangered. They formed monopolies, get insider information, form associations with other billionaires, drag poor people to court. Now the Devil himself become religious because the common man with some brains could ruin his empire? That reminds me of the Devil quoting scripture to Jesus in the Desert.”

Another user also pointed out, “Chamath is quite right. Warren also says he doesn’t understand 5G & strangely doesn’t condemn/put-down 5G (for potential spying, assassinations or harmful radiation) but is getting his staff/experts to study it (for future investment?). Perhaps this is due their taste &/or background?”

And another simply said, “It’s seniors like Munger and Buffet that give old people a bad name.”

Published at Tue, 07 May 2019 09:44:22 +0000