Berkshire Hathaway Vice President Charlin Munger criticizes bitcoin like other elderly billionaires.
He has been urging investors over the past few years not to buy the cryptocurrency, which is volatile. A BTC holder can lose their entire investment at any time, Munger believes.
During a speech at the Zoom Zoomtopia conference this week, the financier again criticized the cryptocurrency market.
He called the holders of virtual assets fools and reiterated his position that bitcoin and other cryptocurrencies have no future. In addition, he predicted the collapse of most digital assets that have no real collateral.
Munger noted:
“Most of these investments will go to zero, and that’s something you have to realize.”