Berkshire Hathaway co-founder and Vice Chairman Charlie Munger has stated that investing in cryptocurrency is "stupid gambling" and that he is ashamed the U.S. has not banned it yet.
Munger made the comments in an interview with CNBC.
Charlie Munger has criticized cryptocurrency for a long time, famously claiming that Bitcoin was "rat poison" and that he considers investing in cryptocurrency no different than gambling.
- During an event with CNBC's Becky Quick, Munger stated that investing in crypto is idiotic and that he wishes the U.S. would follow China's steps in banning it altogether.
- "Sometimes I call it crypto 'crappo,' sometimes I call it 'crypto s---.' It's just ridiculous that anybody would buy this stuff," he said during the CNBC interview.
- According to the legendary 99-year-old investor, the idea of replacing the USD as a base currency is dangerous for the U.S. and for the entire global financial market.
Regardless of Munger's position on cryptocurrency, Berkshire Hathaway has previously invested in companies that have ties with crypto. In 2022, the company invested $1B in Nubank, a bank that accepts crypto.
