Charlie Munger From Berkshire Hathaway’s says Government Must Ban The Bitcoin,Cryptos “Dangerous Disease” Munger Remarks

 

Vice-chairman of Berkshire Hathaway Mr Charlie Munger and the very close person to Warrant Buffett’s recently states that I wish crypto should be banned by the official without delay. He says the Govt and concerned authorities made a huge blunder to allow Bitcoin and Cryptocurrencies, its all are no more than a suffocating disease in his opinion.

Charlie Munger the right Hand of Warrant Buffett’s Declares, It was a great blunder to permit the Cryptos.

Warrant Buffett’s right hand and his old business partner Mr Charlie Munger commented about Bitcoin and Cryptocurrencies most recently on Wednesday in the slot of an interview with Yahoo Finance before the annual shareholders meeting where he is supposed to serve the meeting as chairman.

Most recently Charlie Munger tagged Bitcoin a kind of poison and he told last year that he doesn’t like Bitcoins and cryptocurrencies to be successful at all. Munger was asked by the media personnel that he is not surprised that Bitcoin is viewed as a mainstream cryptocurrency since that time.

The vice-chairman of Berkshire Hathaway said it's better to stop thinking about Bitcoin because it seems only ideal if you wish to commit any kidnapping, extortion or any illegal act.

He further added I don’t really understand why should a civilized country or the Govt allow such a payment system that is almost untraceable and controlled by a bunch of few people who are only aiming to fill their pockets as quickly as they can. The people like them have no record of making any contribution to the development of civilization. I don’t just like it rather I hate it.   

He further elaborated that

It's not good at all for our country to be crazy about Bitcoin and cryptocurrencies, I think the Chinese communists seems wiser than us, as they just banned all these activities. 

He was also questioned about the future development or if he had any prediction about Bitcoin in the United States

“ Sorry guys you just allowed a bad spirit to come out from the bottle, Only God Knows what is going to happen with Bitcoins “

Munger said “It was a huge blunder to allow the Bitcoin at all”

Moreover, Charlie Munger added to his comments about the regulation of cryptocurrencies.” The matter of the fact is one, “when the concerns from the regulatory authorities are out of the Govt they stand in the favour of Bitcoin and runs heavy campaigns to promote such funky currencies like capitalists, therefore, I don’t expect any fair or positive decisions to be made by the authorities. 

During the Daily Journal meeting, Charlie Munger emphasized that I ever wish about cryptocurrencies to be banned with no more delay and I also appreciate the Chinese for banning such baseless currencies.

Munger also responded to a question “ I did not invest in the cryptos and has no intentions to invest in future too as Bitcoin and cryptocurrencies are fatal diseases".

Munger also advised the financial investors not to invest in the cryptos at all. The whole bloody boom will disperse soon and it is completely against the interests of the civilisations.

What do you folks think about Charlie Munger’s views about Bitcoin and cryptocurrencies? Let us know in the comments section below.