Bitcoin has recently reached high levels of fame and approval worldwide even from Wall Street veterans but not everyone has welcomed the digital currency with open arms.
Charlie Munger, vice chairman of the investment firm Berkshire Hathaway, headed by Waren-Buffet, recently spoke about the rising popularity of Bitcoin but not in nice words.
The company’s yearly shareholder meeting took place on Saturday as reported by CNBC, the 97-year-old said that bitcoin disburdened on the digital currency.
He was quoted, “Obviously I disapprove of the bitcoin popularity, I don’t support a currency that is helpful for kidnappers and criminals and so on, neither do I encourage spending billions of dollars to someone who created the latest financial product out of nowhere.”
“If I add on simply I loathe the whole success of this currency and it’s against benefiting our civilization.”
Buffett, however, refused to straightaway comment on bitcoin, reasoning he didn’t want to isolate anyone, who had invested in it, as reported by CNBC.
Bitcoin has had an insane year till now, with its worth reaching an all-time high at over $60,000. The token, on the other hand, is receiving added support from Wall Street and an increasing number of bigger companies e.g. Tesla.
One can only assume if Munger’s statement will have any substantial effect on the value of Bitcoin or not.