[OldBill]

and Charlie Munger blasts the crypto as 'stupid' and 'evil'

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Theron Mohamed
Sat, April 30, 2022, 4:16 PM·2 min read







In this article:

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BTC-USD
-0.13%

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Warren Buffett and Charlie Munger.REUTERS/Rick Wilking

• Warren Buffett and Charlie Munger slammed bitcoin and other cryptocurrencies.
  
• Buffett said he wouldn't pay $25 for the world's entire supply of bitcoin
  
• Munger blasted bitcoin as "stupid," "evil," and something that makes its owners look bad.

Warren Buffett and Charlie Munger opened fire at bitcoin and the broader cryptocurrency industry during Berkshire Hathaway's annual shareholder meeting on Saturday.
"If you told me you owned all the bitcoin in the world and you offered it to me for $25, I wouldn't take it," Buffett said. "What would I do with it?"


In contrast, Buffett said he would buy a portion of the country's farmland, or some of the nation's apartments. He reiterated his view that bitcoin isn't worth anything because it doesn't produce anything, and holders rely on somebody else being willing to pay more for it than they did.


"It's got a magic to it, but people have attached magic to lots of things," Buffett added, comparing bitcoin to an insurance company pitching itself as a technological marvel.
Munger, Buffett's longtime business partner, spoke even more harshly about the most valuable cryptocurrency.


"In my life, I try and avoid things that are stupid, evil, and make me look bad in comparison to someone else," Munger said. "Bitcoin does all three."


The billionaire investor explained that holding bitcoin is "stupid" because he expects it to be worth zero dollars in time, "evil" because it undermines the integrity and stability of the US financial system, and makes the US "look foolish" because China's ruling party was smart enough to ban it.


Buffett has previously dismissed bitcoin as "rat poison squared," and described it as a worthless delusion. Meanwhile, Munger has compared the crypto to a venereal disease, called for the US to ban it, and bemoaned the massive speculation underlying its price gains in recent years.

[pimike]

Your point?

They have always been against it.

Are you agreeing?

Not agreeing?


What do you really want to tell us Bill?

[Ghenghis Kahn]

Warren Buffet is an old senile fukk now along with his goon Charlie Munger. They'll die in the next year or two. Their words don't mean shit anymore.

[jjgold]

interesting

[adila1401]

Is it shocking he wants everyone to invest in asset classes he was early adopter in acquiring rather than crypto?

[Auto Donk]

even seeweed is smarter than buffet, apparently.......

(seen here buying bitcoin):






seen here SPENDING BITCOIN:

[SamsNCharge99]

generational thing

no surprise here

[loser711]

I keep reading he has left all his money to Epstein's good buddy, Bill Gates (Gates Foundation).

[eidolon]

That's okay. He is going to die in a few years anyways.

[pavyracer]

The guy is 95 years old. He wouldn't know what crypto is even if it hit him in the head in brought daylight.

He didn't buy high tech stocks until late and missed on the boat. This is why Bezos and Musk surpassed him in wealth. He does not take risks.

[sweethook]

you can trade bitcoin for snatch an jaw ?

[Slipknot26]

He's a dumfukk then

[Art Vandelay]

generational thing

no surprise here

Yep, would be shocked if these two guys were on board.

[johnnyvegas13]

He's a dumfukk then

Really

also y $25 ???

y not just say a dollar...

[stake1]

its because he is not capable of understanding it

[Brock Landers]

That's because he's 8 years late to the game.

He's lying if he said that when it was $3

No return on earth has done what Bitcoin has in a decade

[Slipknot26]

Yes , it's quite obvious
He's an investor, input money , gain a return on investment.
To say you wouldn't put up 25 bones for billions in profit .
Yep , thats called dumbfukk, he does it daily in areas he "can influence ".
Hes pissed because he missed it completely.

[asiagambler]

Buffett has always had this stance

In a way, he is right since bitcoin doesn't actually produce anything

But at the same time, it never really was meant to

Bitcoin is a currency. It's just a medium of exchange. Not a security or a commodity or whatever various US institutions want to call it

You could call it a much needed "upgrade" for a legacy monetary system

After all, what is fiat money at face value other than a fairly worthless piece of paper ?

Now does that make bitcoin worth ~38k USD ? Well the market thinks so obviously but there is nothing special or unique about bitcoin itself. There are literally thousands of bitcoin clones (altcoins) that does exactly what it does and more and is faster, more efficient, more robust, more secure, etc.

Bitcoin just benefited from being the first of its kind

[MinnesotaFats]

I think his opinion will change as more retailers accept and other Countries adopt it as currency

[pavyracer]

I think his opinion will change as more retailers accept and other Countries adopt it as currency

Most likely he will be dead when this happens. How long do you think he is going to live?

[juicername]

What about $24?

Seems extremely stupid. Either way buy it for $25 and resell for any anything above $25 and you made a profit...

Or take the altruistic route and keep it all and keep this evil away from the rest of humanity, if that now is his true belief. $25 Seems like a small price to pay to save humanity, especially for one of the richest people in the world.

[MinnesotaFats]

Most likely he will be dead when this happens. How long do you think he is going to live?

Rich guys from Omaha tend to live a long time...

[JIBBBY]

Warren Buffet usually knows his shiit..

[Mike Huntertz]

This is proof that he has lost it.
If he could aquire all the BTC in the world for $25 and then sell it he'd be the richest man in the world!
Any sane person would make that purchase, therefore he has dementia!
Sad! He had his day and he was the best!

[Halfapointoff]

Bitcoin is in the business of taking cash and converting it to …well bitcoin. But hey, internet is a thriving world. Invest suckers.

[Mac4Lyfe]

How many people have Buffett and Monger fukked over in their lifetimes? Guys have profited off of companies demise, coming in and swooping up companies on the cheap. He loves to put down companies, all while he's building a stake. He talked about Apple and how he never got on board, never used the iphone or iwatch but he slowly built up a stake when Apple was down and then announced it. He just bought up Activision because Microsoft promised to buy, even though the CEO is caught up in all kind of scandals. he doesn't care about that, only that he can make a guaranteed buck. His company Berkshire Hathaway are investing in crypto as we speak. He won't tell you because he's a charlatan. A smart charlatan.

[Mac4Lyfe]

Bitcoin is in the business of taking cash and converting it to …well bitcoin. But hey, internet is a thriving world. Invest suckers.

What is the US dollar backed by??? Don't you take US dollars and convert it into US dollars? Your point?

[Mike Huntertz]

How many people have Buffett and Monger fukked over in their lifetimes? Guys have profited off of companies demise, coming in and swooping up companies on the cheap. He loves to put down companies, all while he's building a stake. He talked about Apple and how he never got on board, never used the iphone or iwatch but he slowly built up a stake when Apple was down and then announced it. He just bought up Activision because Microsoft promised to buy, even though the CEO is caught up in all kind of scandals. he doesn't care about that, only that he can make a guaranteed buck. His company Berkshire Hathaway are investing in crypto as we speak. He won't tell you because he's a charlatan. A smart charlatan.

Maybe cryptocurrency isn’t “rat poison” after all?

Those were once the words of Warren Buffett, the famous investor called the “sage of Omaha” for knowing things before the rest of the market. Now his money is saying otherwise.
Specifically, his company Berkshire Hathaway has bought $1 billion worth of stock in a digital bank that focuses on crypto.
Berkshire Hathaway made its crypto investment public with a SEC filing earlier this week. It revealed that Buffett’s company had purchased $1 billion in shares of Nubank, a digital bank based in Brazil, and the largest of its kind in Latin America.
Nubank is a so-called neobank, a type of bank that operates differently from the traditional banking system by not relying exclusively on physical locations, and instead focuses primarily on digital services. The digital bank's investment unit, NuInvest, allows users to put money in a Bitcoin exchange-traded fund (ETF)—tapping a financial space that Berkshire's leaders have shown little love for.

Buffet speak with forked tongue!

[Ghenghis Kahn]

Warren has ties to the banking cartel aka the Rothschilds, of course, he's gonna bad mouth crypto.

Hey look at the sellout Arnold that said, "Fuckk your freedom."

All the people you see on TVs are sellouts. They don't give a shit about you and want to enslave you forever.

[lakerboy]

[JIBBBY]

[OldBill]

ok so what i guess yall havent leraned to follow the success of billionaires .......if i could have one month metting with any top billionaire for 10,000$ i would dive in head first to gain tht knowledge and call up every trash broker in our area and say F*** Yo modder i just earned $20,000 this month and it's going higher next month might 5 x it by end of year

[RoyBacon]

Warren also said the same thing about technology stocks. Said they had no leggs. 20 years later he bought Apple.

Can't blame a 91 year old who thinks semiconductors are a fad to shun BTC.

[OldBill]

SO how many of you even earned $1 million in 25 years of working ya right work 40 years for some big corpoarte retire and get gold watch n die broke FAWKKKKKKKKKKKKKKKKKKK ME no thanks investetmenst starting to pay dividends already $500 invested im seeing posible 1st dividend pay out in august of $5500 two top cannibis stocks using my self broker software basically free

working now it would take me 5 months to earn $5000 with SSI $850 a month it's out there guys invest your money let it work for you now

i'm kicking my self in ass for not doing it 7 years ago after huge casino win 12 hours craps n slots $3576 just kept taking it out to get wife to gamble with me took 3 months to lose it

mostly her losing 1 time she blew $500 fisrt night omg i screamed at her i won $600 on craps gave her $100 to play next day yeahh she won $250 she was angry at me for not having dinner on our anniversary ......... i said sorry but i was winning money

wanna go eat now i got huge food comps for us $75 she said no mo fo go fawk yourself

fine i said f u too

[KVB]

lol

It's about investment philosophy, not just gains.

So many BTC defenders in the thread acting like Munger and Buffet attacked crypto.

That's not what happened though.