Munger, 99, once compared cryptocurrencies to a ‘venereal disease.’
Cryptocurrencies amount to a “wretched excess” that should be banned in the US, Berkshire Hathaway’s billionaire vice chairman Charlie Munger argued in a scathing column this week.
“Obviously the US should now enact a new federal law that prevents this from happening,” Munger added. The billionaire also made a more obscure reference to the British Parliament’s passage of the Bubble Act in 1720, which banned public trading of new common stocks after the speculative trading saga known as the ‘South Sea Bubble” resulted in a major economic crisis. The ban remained in place for more than a century.
Forceful condemnations of the crypto sector are nothing new for Munger, who has blasted the industry and its major players on several occasions in the past.
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