Charlie Munger of Berkshire Hathaway has spoken up once more about Bitcoin. He chatted with the Wall Street Journal and shared his thoughts. Munger thinks Bitcoin is causing big waves in the usual way money and banks work.
He’s worked with Warren Buffett for a long time and is known for saying what he thinks. This time, he talked about how Bitcoin is becoming more popular and how that worries him. The rise in the value of Bitcoin has caught his attention and he’s not happy about it.
The Need for Solid Money
During his talk, Munger highlighted how important it is to have money that doesn’t change in value too much. He talked about Adam Smith’s old ideas about money and the economy. Munger believes that for people to trade easily and for the economy to do well, money needs to be stable. It’s usually the government’s job to make sure that the money is something people can trust.
He gave a lesson in history, reminding us that from the early days of trading goods to our current times, having money you can rely on has always been key. This goes for shells, grains, gold, or the way banks work today. Trust in money is a must, and this is what he thinks Bitcoin is messing with.
Munger didn’t mix words when he talked about Bitcoin. He thinks it’s like making a mess in a system that’s been working well for a long time.
Munger Keeps Questioning Bitcoin
Charlie Munger’s doubts about Bitcoin have been around for a while. He’s been very outspoken about not liking it, calling it a bad choice for investment. He’s used strong words to describe Bitcoin, likening it to things that are worthless or harmful. He’s even said that cryptocurrencies should be banned, comparing them to an illness.
Even with all the talk about digital money, Munger’s advice stays the same. He suggests that regular folks might want to put their money into something steadier like index funds.