Berkshire’s Munger: Bitcoin rise ‘disgusting and contrary to interests of civilization’

Berkshire Inc. Vice Chairman Charlie Munger isn’t warming to bitcoin. Asked about the digital asset’s rise at Berkshire’s annual meeting on Saturday, Chairman Warren Buffett said he would opt to “dodge” the question on the expectation that hundreds of thousands of viewers were likely cryptocurrency holders. However, Munger, also a longtime cryptocurrency skeptic, pulled no punches, comparing the question to waving a red flag in front of a bull: “Of course I hate the bitcoin success,” Munger said, in part because of what he called its usefulness to “kidnappers and extortionists.” Munger said the “whole damn development is disgusting and contrary to the interests of civilization, and I’ll leave the criticism to others.”

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