Charlie Munger, the right-hand man of Warren Buffett, the vice chairman of Berkshire Hathaway, and a prominent hater of Bitcoin (BTC), the world’s largest digital asset by market capitalization, has passed away at the age of 99 at a hospital in California, where he lived. Munger is known for being a tech guru and investment mogul
As per a report from Reuters on November 28, Munger died peacefully in a hospital in California and would’ve turned 100 on January 1, 2024. Buffett, who’s 93 and lost his closest partner, said, “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation.”
Munger was the vice president of Berkshire Hathaway since 1978, and his death marks the end of an era of corporate America and investing. Tim Cook, the chief utive of tech giant Apple, commented on Munger’s death, adding, “A titan of business and keen observer of the world around him, Charlie Munger helped build an American institution and, through his wisdom and insights, inspired a generation of leaders. He will be sorely missed. Rest in peace, Charlie.”
A titan of business and keen observer of the world around him, Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. He will be sorely missed. Rest in peace Charlie. pic.twitter.com/vNGDktOAhz
— Tim Cook (@tim_cook) November 28, 2023
Munger has been a strong critic of Bitcoin and has advocated for banning the digital asset sector. While known for being a financial genius, his views on Bitcoin sparked criticism from members of the blockchain and digital asset sectors.
Charlie Munger passed away today. A legend of investing, one of the greatest to have ever done it.
— The Wolf Of All Streets (@scottmelker) November 28, 2023
In a November interview with The Wall Street Journal (WSJ), Munger said that the recent jump in the price of Bitcoin worried him. He remained skeptical of “artificial currencies,” comparing BTC to throwing a “stinky marble” at a long-standing recipe that works well for many people
As per Munger’s statements, Bitcoin “doesn’t have any intrinsic value,” and “the urge to participate in something that looks like easy money is a human instinct that was always there.” He remained a firm believer in the US dollar and compared BTC to gambling and get-rich-quick schemes
“Crypto is an investment in nothing, and the guy who’s trying to sell you an investment in nothing says, ‘I have a special kind of nothing that’s difficult to make more of,’” Munger said.
As reported earlier by Bitnation, Munger asked the US government in February to ban cryptocurrencies like China while describing Bitcoin as an example of “wild and woolly capitalism.”
