- Location
- London
From Warren Buffett Berkshire vice Chairman
On the value of cryptocurrencies, Munger said he did not welcome a currency that was “so useful to kidnappers and extortionists… Nor do I like shovelling out a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air. I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization.”
"new financial product out of thin air"
...and he did not even mention the huge operating costs of this "whole damn development"
"contrary to the interests of civilization.”
Pretty damning!
Clearly, once it goes out of fashion, a lot of people will cry...
On the value of cryptocurrencies, Munger said he did not welcome a currency that was “so useful to kidnappers and extortionists… Nor do I like shovelling out a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air. I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization.”
"new financial product out of thin air"
...and he did not even mention the huge operating costs of this "whole damn development"
"contrary to the interests of civilization.”
Pretty damning!
Clearly, once it goes out of fashion, a lot of people will cry...