Buffett Wingman Hates Bitcoin

Could be a generational thing, but 94 year old Charlie Munger, Warren Buffett’s wingman, hates Bitcoin.

He calls the crypto-currency “a noxious poison,”and said that the government should crack down on it as was done in China.

To be clear, his view is “It’s bad people, crazy bubble, bad idea, luring people into the concept of easy wealth without much insight or work”.

And he would avoid it “like the plague.”

Other big name investors are also betting against Bitcoin, like hedge fund managers Seth Klarman and Jeffrey Grundlach.

https://www.cnbc.com/2017/12/22/buffett-partner-charlie-munger-says-bitcoin-is-total-insanity-avoid-it-like-the-plague.html

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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