As a relatively new thing, many people have different attitudes towards cryptocurrencies. Including Charlie Munger, billionaire and vice chairman of Berkshire Hathaway.
Munger seems to hate cryptocurrencies very much, and thinks crypto is only useful for extortion, kidnapping, and tax evasion. In fact, he calls this crypto like a venereal disease.
"I definitely don't invest in crypto. I'm proud of that. It's like a venereal disease," Munger explained while speaking at a Daily Journal Corp shareholder meeting.
He also praised the Chinese government for blocking cryptocurrencies, and hoped many other countries would do the same. In fact, Munger made a similar statement some time ago, when he expressed his hatred for Bitcoin.
"I hate the success of bitcoin. I think all its development is disgusting and against the interests of society," he said at the time.
And Munger's statement, of course, reaped many comments from netizens. There was a netizen who illustrated that when Munger was born in 1924 (98 years ago), Lenin died, the Ottoman Empire ended, Disney made its first cartoon, IBM was founded, and so on.
For information, when Facebook was ready to sell its initial shares through an initial public offering (IPO) in 2012, Munger also refused to buy the shares. He admitted that he did not understand and did not like Facebook.
I don't want to invest in stocks I don't understand, and I really don't want to understand Facebook," Munger said. "Basically I just don't like it."
Munger isn't the only person who doesn't like cryptocurrencies. Many millionaires and other millionaires who have come of age share the same view of cryptocurrencies. Then Warren Buffet, Munger boss at Berkshire Hathaway, who called bitcoin 'rat poison'.
Buffet and Munger may hate crypto, but Berkshire Hathaway still invests by buying $1 billion worth of Nubank shares. Nubank is Brazil's largest fintech bank popular with South American crypto investors.