Charlie Munger, a leading American investor and the Vice Chairman of Warren Buffett’s Berkshire Hathaway, called Bitcoin ‘disgusting’ in a recent statement.
Speaking to the Annual Shareholders meeting of Berkshire Hathaway, Munger said that someone has created Bitcoin out of thin air. He also criticized BTC’s extreme volatility and the lack of regulation.
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The world’s largest cryptocurrency gained nearly 5% in the last 24 hours. As of writing, Bitcoin is trading above $58,000 with a market cap of more than $1.1 trillion.
“I hate the Bitcoin success. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air,” Munger said during Berkshire Hathaway’s Q&A session.
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