Warren Buffett avoids $ 2 trillion in crypto demand because his partner Munger says Bitcoin is bad for civilization

Warren Buffett, CEO of Berkshire Hathaway, and Vice President Charlie Munger are sending a clear signal that they are not cryptocurrency fans, despite the rapid rise in the emerging asset class. At the company's latest annual shareholders meeting, Oracle of Omaha avoids a question about the valuation of $ 2 trillion in cryptocurrency because it doesn't want to make any statement that wouldn't please hundreds of people. Thousands of cryptocurrency holders are watching a single event. “There are probably hundreds of thousands of people watching this with their own Bitcoins and possibly two missing. So we had the option of making 400,000 people angry and unhappy and / or making two people happy. And this is just a silly comparison. Although Buffett kept his mind to himself, Charlie Munger, his longtime business partner, did not retract his statements. "I am not in favor of a currency that is so useful for kidnappers, blackmails, etc. I also don't like spending a few billion extra dollars. And I don't like distributing billions and billions of dollars to someone who inventes a new financial product. So, I have to say humbly all Buffett and Munger have long criticized crypto. Buffett believes that cryptocurrencies are worth zero, and Bitcoin was once called a "square rat poison". Last year it was a "square rat poison". In a CNBC interview, he promised he would never own Munger, stated that Bitcoin has no value and that it is "Just Insanity." Don't Miss Anything – Subscribe to receive crypto email alerts straight to your inbox. Award winner The Daily Hodl investment advice Investors should do their best.

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