Charles Munger allowed most cryptocurrencies to collapse to zero


Most investments in digital assets will be completely worthless, Berkshire Hathaway Vice Chairman Charles Munger said during the Zoomtopia online conference. Fortune reports this.

“Don’t get me started on Bitcoin. This is the stupidest investment I have ever seen,” said 99-year-old Munger.

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

In 2022, he called cryptocurrencies “an investment in nothing” and praised China for banning them.

During a recent meeting, Warren Buffett’s business partner also spoke about his views on artificial intelligence. In his opinion, the technology “is causing a stir, but probably more than it deserves.”

He noted that AI has actually been around for quite some time, with its roots going back to the 1950s.

“We have always had artificial intelligence. This is when software creates more software,” said the Berkshire Hathaway vice chairman.

Earlier in a conversation with CNBC, Munger acknowledged the high importance of breakthroughs in the field of artificial intelligence. However, he added that he was skeptical about the “hype” surrounding the technology.

Let us recall that in February 2022, the vice chairman of Berkshire Hathaway criticized the US authorities for not banning cryptocurrencies and called everyone who disagrees with his position “idiots.”

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