Charlie Munger: Bitcoin As Terrifying As ‘Trading Harvested Baby Brains’
May 10, 2018
Just a day after Warren Buffett, chairman and CEO of Berkshire Hathaway, criticized Bitcoin at the annual shareholders meeting in Omaha, the company’s vice president Charlie Munger also voiced his ardent speech on the atrocities of cryptocurrencies.
Munger’s notes on crypto sounded quite nice first but soon got filled with poignancies.
“The computer science behind bitcoin is a great triumph of the human mind. They created a product that’s hard to create more of but not impossible. [But] I see an artificial speculative medium. [It’s] anti-social, stupid and immoral.”
After that 94-year-old Munger began comparing crypto trading with “freshly harvested baby brains” and claimed the both being immoral even if they are profitable:
“Suppose you could make a lot of money trading freshly harvested baby brains. Would you do it? To me bitcoin is almost as bad.”
Then Munger attacked Bitcoin supporters by saying that it is a shame to promote crypto assets.
“I regard the whole thing as a combination of dementia and immorality. I think the people pushing it are a disgrace. There ought to be some things that are beneath you, that you just don’t do, and this is one.”