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Charlie Munger from Berkshire Hathaway says Bitcoin is ‘disgusting and against the interests of civilization’

The inevitable question was raised about Bitcoin (CRYPTO: BTC) during the Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) 2021 shareholders meeting with Warren Buffett and Charlie Munger. Buffett Dodges: Buffett, chairman of Berkshire Hathaway, has said he hates it when he sees politicians dodging questions, but he would do it himself on the Bitcoin issue. “We had a governor once in Nebraska, a long time ago, and he had a tough question, you know. ‘What do you think about property taxes? or “What should we do with the schools?” and he was looking straight at the person, and he was like, “I’m fine on that one!” and he was leaving. Well I’m fine on that one, ”Buffett said before handing over to Vice President Munger. Munger weighs in: “Those who know me well just wave the red flag at the bull,” Munger said. “Of course I hate the success of Bitcoin. I am not in favor of a currency that is so useful to kidnappers and extortionists. So on and on, I also don’t like spending a few billion, billions and billions of dollars. extra dollars to someone who just invented a new financial product out of nowhere. I think I should modestly say that I think all this damn development is disgusting and against the interests of civilization, and I will leave the criticism To the others. To which Buffett replied, “I’m fine on that one!” Earlier in February, Munger said cryptocurrency trading was “just dementia” and the price of Bitcoin was far too volatile to be a traditional medium of exchange. “It’s really sort of an artificial substitute for gold, and since I never buy gold, I never buy Bitcoin. I recommend others to follow my practice, “he said. Bitcoin hit a new high of over $ 63,000 on April 13. Price action: Bitcoin is up 96.62% since then. the start of the year. Bitcoin has edged up 1.76% in the last 24 hours to $ 57,776. See more from BenzingaClick here for Benzinga options tradingWarren Buffett and Charlie Munger talk about economics, markets to Berkshire Hathaway 2021 Annual MeetingBerkshire Hathaway Reports Billions of Dollars in First Quarter Operating Profit Benzinga does not provide investment advice.All rights reserved.

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