Berkshire Hathaway CEO Warren Buffett, Vice Chairman Charlie Munger and Microsoft Co-Founder Bill Gates speak to CNBC’s Becky Quick about bitcoin and cryptocurrencies.
» Subscribe to CNBC:
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news:
Find CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Google+:
Follow CNBC News on Instagram:
Charlie Munger: Bitcoin Is Worthless Artificial Gold | CNBC
Berkshire Hathaway Vice Chairman Charlie Munger went after bitcoin again on Monday, doubling down on remarks he made about the digital currency over the weekend.
“Bitcoin is worthless, artificial gold,” Munger told CNBC’s “Squawk Box.” “Now that is not something I think the world needs.”
“The fact that it’s clever computer science doesn’t mean it should be widely used, and that respectable people should encourage other people to speculate on it,” he said. “Bitcoin reminds me of Oscar Wilde’s definition of fox hunting: ‘The pursuit of the uneatable by the unspeakable.'”
Munger went after the popular cryptocurrency at the Berkshire Hathaway annual meeting on Saturday, calling it a “turd,” adding that trading cryptocurrencies is “just dementia.”
His partner, Warren Buffett, also commented negatively on bitcoin on Monday, saying it is an asset that does not create anything.