{"id":13233,"date":"2022-07-13T03:15:49","date_gmt":"2022-07-13T03:15:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/everybody-should-avoid-crypto-as-if-it-were-an-open-sewer-full-of-malicious-organisms-featured-bitcoin-news\/"},"modified":"2022-07-13T03:15:49","modified_gmt":"2022-07-13T03:15:49","slug":"everybody-should-avoid-crypto-as-if-it-were-an-open-sewer-full-of-malicious-organisms-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/everybody-should-avoid-crypto-as-if-it-were-an-open-sewer-full-of-malicious-organisms-featured-bitcoin-news\/","title":{"rendered":"Everybody Should Avoid Crypto ‘as if It Were an Open Sewer, Full of Malicious Organisms’ \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett\u2019s right-hand man, has a message for investors considering cryptocurrency. \u201cNever touch it,\u201d he stressed, adding that everyone should follow his example and avoid crypto \u201cas if it were an open sewer, full of malicious organisms.\u201d<\/strong><\/p>\n

Charlie Munger Reaffirms His Anti-Crypto Stance<\/h2>\n

Charlie Munger, Warren Buffett\u2019s right-hand man and longtime business partner, threw more insults at cryptocurrency in an interview with The Australian Financial Review, published Tuesday. Munger previously called bitcoin \u201crat poison\u201d and said last year that he hated the success of BTC<\/a>.<\/p>\n

Noting that the \u201ccrypto craze\u201d is a \u201cmass folly,\u201d he told the publication:<\/p>\n

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I think anybody that sells this stuff is either delusional or evil. I won\u2019t touch the crypto.<\/p>\n<\/blockquote>\n

The Berkshire executive continued: \u201cI\u2019m not interested in undermining the national currencies of the world.\u201d<\/p>\n

Munger was then asked what advice he would give to other investors who may be considering investing in cryptocurrency. \u201cTotal avoidance is the correct policy,\u201d he replied, adding:<\/p>\n

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Never touch it. Never buy it. Let it pass by.<\/p>\n<\/blockquote>\n

Like Buffett, Munger believes that stocks of real cash-generating companies are better investments. \u201cStocks have a real interest in real businesses,\u201d he stressed.<\/p>\n

In contrast, \u201cCrypto is an investment in nothing, and the guy who\u2019s trying to sell you an investment in nothing says, \u2018I have a special kind of nothing that\u2019s difficult to make more of,’\u201d he described.<\/p>\n

Munger emphasized: \u201cI don\u2019t want to buy a piece of nothing, even if somebody tells me they can\u2019t make more of it \u2026 I regard it as almost insane to buy this stuff or to trade in it.\u201d He elaborated:<\/p>\n

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I just avoid it as if it were an open sewer, full of malicious organisms. I just totally avoid and recommended everybody else follow my example.<\/p>\n<\/blockquote>\n

Munger has never been a fan of bitcoin or any other cryptocurrencies. In February, he said that the government should ban BTC<\/a>, calling it a \u201cvenereal disease.\u201d He has praised China several times in the past for banning crypto, stating that he wished cryptocurrency has never been invented. In May last year, he said that bitcoin was \u201cdisgusting and contrary to the interest of civilization.\u201d<\/p>\n

In May, Munger said<\/a>: \u201cI try and avoid things that are stupid and evil and make me look bad in comparison to somebody else \u2014 and bitcoin does all three.\u201d He added, \u201cIt\u2019s stupid because it\u2019s still likely to go to zero.\u201d<\/p>\n

What do you think about the comments by Berkshire Hathaway Vice Chair Charlie Munger on crypto? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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