Berkshire Hathaway deputy chairman and Warren Buffett partner Charlie Munger once again explained his views on Bitcoin which is considered a ‘rat poison’.
This individual from the beginning was not a fan of Bitcoin. "I do not think bitcoin will be a world exchange medium. It is too volatile to function in exchange. ”
Clearly, Satoshi Nakamoto's currency is reminiscent of the statement popularized by Oscar Wilde regarding fox hunting: The pursuit of the uneatable by the unspeakable. Simply put: Only those who are not wise pursue what is not profitable.
On the other hand, Munger argues that well-run banks are contributors to civilization and it is the central banks that control their own banking system and money supply.
As a best move, Munger advises the public to follow the method of never buying gold or bitcoin.
When asked about the recent Bitcoin price of $ 50,000 and the recent $ 1 trillion Tesla market value, Munger quoted the famous English writer Samuel Johnson: "Sir, there is no settling point of precedency between a louse and a flea" .
What the 97-year-old meant by that, he himself was not sure which was worse, whether it was Tesla market value or Bitcoin value which was both high.
The founder of the Daily Journal also reiterated that they would follow Tesla, which recently invested in Bitcoin, “No. We will not follow Tesla in investing in bitcoin. ”
