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IPFS News Link • Bitcoin

Why The Old Guard Hates Bitcoin

• zerohedge.com by Bonner & Partners

Bitcoin is "antisocial, stupid, and immoral."

That's how investing legend Charlie Munger described the most popular cryptocurrency in the world.

Munger is the right-hand man of Warren Buffett… and vice chairman of Buffett's Berkshire Hathaway company.

Yahoo! Finance interviewed Munger during the company's annual meeting in May. That's when he called bitcoin a "combination of dementia and immorality."

(Note to Charlie: Bitcoin is probably the most moral currency out there. Unlike the U.S. dollar and other fiat currencies, central bankers can't print bitcoin into oblivion. So its value doesn't erode through inflation.)

But Munger didn't stop there…

"Suppose you could make a lot of money trading freshly harvested baby brains," he continued. "Would you do it? To me, bitcoin is almost as bad."


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