Charlie Munger calls digital currencies a destabilizing and unproductive financial invention
Charlie Munger, vice chairman of Berkshire Hathaway and long-time business partner of Warren Buffett, recently criticized Bitcoin and other cryptocurrencies in an interview with The Wall Street Journal. The 99-year-old investor believes that digital assets are a financially destructive invention without productivity and compared Bitcoin to a "foul ball" thrown into the refined formula of traditional finance. He emphasized the importance of strong currencies during the transition from primitive society to advanced civilization, and pointed out that the stability of currency is always the most important, whether it is shells or gold coins.
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