'Buffett's Partner' Munger: "Cryptocurrency Is Like an STD... Should Be Banned"

Warren Buffett, Chairman of Berkshire Hathaway (left), and his longtime business partner Charlie Munger, Vice Chairman [Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Charlie Munger, vice chairman and longtime business partner of Warren Buffett, chairman of Berkshire Hathaway known as the "Sage of Omaha," compared cryptocurrency to a "venereal disease" and argued that it should be banned.

According to Bloomberg on the 16th (local time), Munger stated at the Daily Journal's online shareholders meeting, "I hope cryptocurrency is banned immediately."

Munger said, "I respect China's ban on it. They were right, and we were wrong to allow cryptocurrency," adding, "I have not invested in cryptocurrency and am proud to have avoided it. Cryptocurrency is like a venereal disease and is contemptible."

The 98-year-old Munger has previously criticized Bitcoin, calling it "rat poison." He also expressed concerns about the excessive venture capital funding pouring into startups.

Meanwhile, Munger also expressed concern about the risk of inflation reaching its highest level in 40 years. He mentioned that hyperinflation was a cause of the fall of the Roman Empire, pointing out that "(inflation) is probably the greatest long-term risk after nuclear war."

This content was produced with the assistance of AI translation services.