“The fact that it’s clever computer science doesn’t mean it should be widely used,” Berkshire’s Charlie Munger says of bitcoin.
Berkshire Hathaway Vice Chairman Charlie Munger went after bitcoin again on Monday, doubling down on remarks he made about the digital currency over the weekend.
“Bitcoin is worthless, artificial gold,” Munger told CNBC’s “ Squawk Box .” “Now that is not something I think the world needs.”
“The fact that it’s clever computer science doesn’t mean it should be widely used, and that respectable people should encourage other people to speculate on it,” he said. “Bitcoin reminds me of Oscar Wilde’s definition of fox hunting: ‘The pursuit of the uneatable by the unspeakable.'”
Munger went after the popular cryptocurrency at the Berkshire Hathaway annual meeting on Saturday, calling it a “turd,” adding that trading cryptocurrencies is “just dementia.”
His partner, Warren Buffett, also commented negatively on bitcoin on Monday, saying it is an asset that does not create anything .