Why Charlie Munger Thinks Most Cryptocurrencies Are Worthless

Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett's right-hand man, has taken a firm stance.

Learn why he thinks most cryptocurrencies will become worthless and dive into his previous criticisms to better understand the skepticism surrounding this digital frontier.

"The Stupidest Investment I've Ever Seen," Says Munger

Charlie Munger, known as Warren Buffett's right-hand man and Vice Chairman of Berkshire Hathaway, has publicly declared that he believes "most cryptocurrency investments will become worthless," as reported by multiple media outlets.

At last week's Zoom-hosted conference "Zoomtopia," Munger responded to questions about Bitcoin and other cryptocurrencies by saying, "Don’t get me started on bitcoins."

He went on to say that it's "That was the stupidest investment I ever saw."

While cryptocurrencies like Bitcoin have consistently risen in price over the long term, Munger predicts that many cryptocurrency prices will eventually crash.

He also conveyed the opinion that "Most of those investments are going to zero."

A History of Criticism Against Cryptocurrencies

Munger has been critical of cryptocurrencies for some time now.

In July of last year, he described digital assets as "a sewer filled with evil creatures," warning that "investing in cryptocurrencies should be avoided."

Furthermore, he has made various other critical remarks in the past, such as comparing digital assets to sexually transmitted diseases, stating they are "worthless," and even going so far as to say, "I can't believe people buy this stuff" and "I'm ashamed of a country that allows this.

" He has even said that they "should never have been invented."

Warren Buffett, known as the "God of Investing," shares Munger's skepticism about cryptocurrencies.

He has described Bitcoin as being "rat poison squared" and has criticized it using the concept of "The Greater Fool Theory."