Charles Munger: Most Cryptocurrencies Will Collapse

Charles Munger, vice chairman of Berkshire Hathaway, has said during the Zoomtopia online conference that most investments in digital assets will be completely worthless, Fortune has reported.

According to him:

“Don’t get me started on bitcoins. That was the stupidest investment I ever saw.”

The entrepreneur is an ardent opponent of cryptocurrencies and blockchain technologies. Munger compared Tesla and Bitcoin to “flea and a louse” in 2021 and also questioned digital gold’s ability to “become a global means of payment.”

Last year, he called cryptocurrencies “an investment in nothing” and praised China for banning them.

During a recent meeting, Munger also discussed his views on artificial intelligence. According to him, the technology “is causing a stir, but probably more than it deserves.”