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.