Munger calls bitcoin ‘totally asinine’

There cannot be many nonagenarians who spend their time worrying about cryptocurrencies.

But Charlie Munger, the 94-year-old billionaire investor, is convinced that bitcoin is “noxious poison”.

“I regard the bitcoin craze as totally asinine,” he told a packed hotel ballroom in downtown Los Angeles, where hundreds of what he called “groupies” gathered for what some feared may be one of their final chances to question Warren Buffett’s long-trusted deputy.

Over the course of two hours at the annual meeting of his company the Daily Journal, Mr Munger sat back in his chair to field questions about oil and climate change, airlines and electric cars, how to make money and how to live a successful life.

It was a miniature version of the annual meeting of Berkshire Hathaway, where Mr Munger is vice-chairman. But whereas at Berkshire, Mr Munger acts as the laconic sidekick to Mr…

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