"It must be quiet after this, right? No one wants to criticize about crypto."
Charlie Munger, a famous American investor who is the vice chairman of Berkshire Hathaway died on November 28, 2023 in a California hospital at the age of 99.
In addition to being the most successful investor of the last century, Munger is also one of the most aggressive critics of cryptocurrency in the business world after he often labeled the digital asset as a poor investment.
Together with his business partner Warren Buffett, Munger transformed Berkshire Hathaway from a textile firm into a giant and investment conglomerate worth more than $700 billion through the purchase of quality companies for the long term.
After serving in World War II and graduating from Harvard Law School, Munger focused on real estate law in California before turning his attention to investments including full-time business management in the 1960s.
Although Munger is known as Buffett's right-hand man, he had already created an extraordinary career before their collaboration, with Buffett once saying Munger deserves all the credit for Berkshire's success.
Enough about his life history, let's move on to the situation where Munger during the Daily Journal 2023 shareholder meeting said that crypto is very "stupid and dangerous poison".
Munger also agreed to an outright ban on crypto like China did in 2021.
There is no denying that risky assets like Bitcoin (BTC) and Ethereum (ETH) have bounced back in early 2023, but Munger remains uninterested in weakening the world's national currencies and he advises investors not to buy crypto.
