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The bitcoin price crashed below $20,000 per bitcoin from nearly $70,000 late last year and dragged down the other top ten cryptocurrencies including Ethereum, BNB
Now Warren Buffett’s right-hand man Charlie Munger has warned people to “never buy” bitcoin or other cryptocurrencies, calling those in the crypto industry “delusional or evil.”
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“Crypto is an investment in nothing,” Buffett’s Berkshire Hathaway VP Munger
Munger and Buffett have previously denounced bitcoin and cryptocurrencies, comparing the crypto market to a casino.
“I think anyone selling these things is either delusional or evil,” Munger said, adding, “I’m not interested in undermining the world’s national currencies.”
The price of bitcoin, ethereum, and other major cryptocurrencies has plummeted in recent weeks, wiping out over $2 trillion from the combined crypto market and triggering a wave of bankruptcies, mass layoffs, and the collapse of some projects, such as terra stablecoin and its support. . moon coin.
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At Berkshire Hathaway’s annual shareholder meeting in April, Buffett explained his longstanding aversion to bitcoin, attributing it to the fact that bitcoin doesn’t produce anything tangible, unlike business or property. His comments led to Tesla
Buffett has previously called bitcoin “delusional” and “death rat squared.”