Bitcoin
BTC
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The bitcoin price has crashed under $20,000 per bitcoin, down from almost $70,000 late last year, and dragging down other top ten cryptocurrencies, including ethereum, BNB
BNB
XRP
Now, Warren Buffett’s right-hand man Charlie Munger has warned people to “never buy” bitcoin or other cryptocurrencies—branding those in the crypto industry “either delusional or evil.”
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Legendary investor Warren Buffett (L), the chief executive of Berkshire Hathaway, and vice chairman … [+]
“Crypto is an investment in nothing,” Munger, the vice-chairman of Buffett’s Berkshire Hathaway
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Both Munger and Buffett have previously railed against bitcoin and cryptocurrencies, comparing the crypto market to a casino.
“I think anybody that sells this stuff is either delusional or evil,” Munger said, adding: “I’m not interested in undermining the national currencies of the world.”
The price of bitcoin, ethereum and other major cryptocurrencies have plunged in recent weeks, wiping more than $2 trillion from the combined crypto market and sparking a wave of bankruptcies, mass layoffs and the collapse of some projects, such as the terra stablecoin and its support coin luna.
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The bitcoin price has been hovering around $20,000 per bitcoin in recent months after a brutal … [+]
At Berkshire Hathaway’s annual shareholder in April, Buffett explained his long dislike of bitcoin, attributing it to bitcoin not producing anything tangible—unlike companies or property. His comments led to Tesla
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Buffett has previously called bitcoin a “delusion” and “rat poison squared.”
