Warren Buffett and Charlie Munger’s Harsh Words on Bitcoin
During Berkshire Hathaway’s 2021 annual meeting, both Warren Buffett and Charlie Munger expressed deep skepticism about Bitcoin. Here’s what they said, why it matters, and how the market reacted.
- Charlie Munger: “I think the whole damn development is disgusting and contrary to the interests of civilization.”
- Warren Buffett: “I’m okay on that one.”
The Harsh Stance on Bitcoin
At the annual meeting, Munger did not hold back in his criticism of Bitcoin, labeling its success as “disgusting.” Buffett, though less vocal in this instance, supported his long-held skepticism by agreeing with Munger’s statement.
Why Their Words Matter
Buffett and Munger are among the most respected voices in finance. Their opposition underscores the ongoing divide between traditional value investors and digital asset advocates. While some see Bitcoin as a hedge against inflation, others like Buffett view it as a non-productive asset without intrinsic value.
“Of course I hate the Bitcoin success,” Charlie Munger says. “I should say modestly that I think whole damn development is disgusting and contrary to the interests of civilization, and I’ll leave the criticism to others.”
— Yahoo Finance (@YahooFinance) May 1, 2021
“I’m okay on that one,” Warren Buffett adds. #YFBuffett pic.twitter.com/vfmEBCt4M4
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Implications for Crypto Markets
Their words may not stop crypto adoption, but they serve as a reminder of mainstream resistance. Institutional investors are split: some follow Berkshire’s caution, while others see opportunities in blockchain-based finance.
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