Charlie Munger has no patience for bitcoin.
During a two-hour question-and-answer session Wednesday at the Daily Journal shareholder meeting, the vice chairman of Berkshire Hathaway and longtime sidekick to Warren Buffett said he considers the current bitcoin craze to be “totally asinine.”
“Bitcoin is noxious poison,” Munger said in response to a question. Munger, 93, is chairman and a director at Daily Journal, a Los Angeles-area publishing company, and his appearance at its annual meeting is a chance to hear his views on a wide range of subjects.
On bitcoin, the technology might be interesting but the investing frenzy around it over the last year should have prompted a government crackdown like the one in China, he said. “Our government’s more lax approach to it is wrong….