Renowned Berkshire Hathaway Vice Chairman Charlie Munger Passes Away at 99

Charlie Munger, the esteemed vice chairman of Berkshire Hathaway and longtime business partner of Warren Buffett, has passed away at the age of 99, as announced by the multinational holding company today.

Munger's Critique of Cryptocurrency:Bitcoin: The "Rat Poison"

In 2013, Munger famously labeled Bitcoin as "rat poison" when its value was a mere $150. Even as the cryptocurrency surged to $9,000 five years later, his stance remained steadfast – dismissing it as "more expensive rat poison."

Munger's Perspective on Bitcoin Returns:Idiot Booms and Harm to the U.S.

Expressing disdain for Bitcoin investors' returns, Munger branded them as "idiot booms" that, in his view, harmed the United States.

Berkshire Hathaway Meetings: A Platform for Colorful Criticism:Woodstock for Capitalists and Cryptocurrency Inquisition

Berkshire Hathaway's annual meetings, known as "Woodstock for Capitalists," often featured colorful language from Munger and Buffett. Cryptocurrency inquiries were a reliable trigger for their candid commentary.

Munger's Three-fold Condemnation:Stupid, Evil, and Foolish

Munger vehemently criticized Bitcoin, deeming it "stupid" for its potential to become worthless, "evil" for undermining the Federal Reserve system, and "foolish" in comparison to China's approach.

Ongoing Disgust Towards Cryptocurrency:From Venereal Disease to "Crypto Crapple" In 2022, at 99 years old, Munger continued to express disdain, equating crypto to a venereal disease and referring to it as "crypto crapple" or "crypto shit" multiple times. He deemed it not just stupid, but "massively stupid and very dangerous."

Munger's Final Verdict:Disgust, Contempt, and National Disappointment

In his last public remarks, Munger reiterated his strong disapproval, stating that the development of cryptocurrency is "disgusting, beneath contempt, and contrary to the interests of civilization." He expressed disappointment in his country for allowing what he considered "crypto shit."

Legacy and Tributes:Munger's Impact on Berkshire Hathaway

Berkshire Hathaway highlighted Munger's role in building the conglomerate and paid tribute to his "inspiration, wisdom, and participation." Buffett acknowledged Munger's significant contributions to their collective success.

Charlie Munger, known for his unfiltered critiques and impactful partnership with Warren Buffett, leaves behind a legacy that transcends the financial world. His outspoken views on cryptocurrency, particularly Bitcoin, remain a notable part of his storied career.

Charlie Munger's critiques, though influential, reflect a staunch negativity towards cryptocurrency, a sentiment that has sparked debate. His unrelenting disapproval raises questions about the evolving landscape of finance and technology.