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Is bitcoin as bad as child prostitution Charlie Munger s scathing attack on cryptocurrency and its promoters – News18

highlights

Charlie Munger, Vice President of Berkshire Hathaway, said a big attack on crypto.
Said- It is as bad as child prostitution, but people do not care.
Said – America and the whole world do not need such currency.

New Delhi. Talking about the recent upheaval in the crypto market, Charlie Munger, vice chairman of Berkshire Hathaway, compared it to child prostitution. Munger said, when it comes to ‘hot deals’, some people leave their morals and break down on it. It doesn’t matter to a certain section, be it child prostitution or bitcoin. If the deal is hot, they don’t want to let it go.

Charlie Munger, vice chairman of Berkshire Hathaway, is also known for his outspokenness. They have not been in support of cryptocurrency since the beginning. They call crypto ‘shit’, and cryptocurrency promoters ‘scum balls’.

read this also – Crypto market is scared of FTX, now this exchange has banned withdrawing money

lead to the decline of civilization
In his latest interview with CNBC, 98-year-old Charlie Munger has said these things. In the same interview, he recently made some comments about the bankruptcy of crypto exchange FTX and its founder Sam Bankman-Fried. He said- These people are giving air to such things. Actually, these people are promoting the downfall of civilization. Let us tell you that FTX has recently filed for bankruptcy, which has given rise to apprehensions about the future of the cryptocurrency industry.

people are losing their reputation
Not only is he against the crypto industry, but Munger also believes that people are losing their reputation trying to increase their wealth by any means. He said, “Reputation is very helpful in financial life and destroying it with scum balls or scum ball promoters, is a huge mistake.” He further said, “America and the whole world do not need a currency that is good for kidnappers or similar people.”

Also Read – ₹8,000 Crore Missing From Customers’ Accounts of Bankrupt Crypto Exchange

officer completely confused
When asked about regulation for the crypto industry, Munger said that the authorities are “completely confused” and that they are “a bunch of older people who have done things a certain way for a long time.” For Munger, even though the crypto industry was booming and new, there should have been some important regulations and the way the industry has unfolded is “a big joke”.

read this also – Billionaire became pauper overnight: never before has anyone lost so much money in a day

He said, “People think it is a real estate, but it is not true. Like his longtime friend and colleague, Warren Buffett, CEO of Berkshire Hathaway, Munger is among those who believe the crypto industry is riddled with duplicity. They call it “part hoax and part fallacy”.

Tags: bitcoin, Bitcoins, business news, crypto, Cryptocurrencies, Cryptocurrency

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