In a world where technology advances by leaps and bounds and artificial intelligence (AI) becomes increasingly present in our lives, Charlie Munger, vice president of Berkshire Hathaway, Warren Buffett’s company, does not seem to share the same enthusiasm as many .
During his recent appearance at the Zoomtopia conference, organized by Zoom, Munger not only expressed his skepticism towards AI, but also harshly criticized cryptocurrencies.
Munger, who has a long history in the investment world, stated that, despite the importance of AI and its existence since the 1950s, he has doubts about the real potential of this technology in taking us to a utopian future. He went further, questioning AI’s ability to cure serious diseases, such as cancer, and was skeptical about the technology’s global impact on society.
However, it was when the subject turned to cryptos that Charlie Munger didn’t mince words. He described Bitcoin as “the stupidest investment I’ve ever seen“. And she didn’t stop there. The vice president of Berkshire Hathaway, who had previously made unflattering comparisons between Bitcoin and “rat poison”, reinforced his negative view of the crypto market, predicting that most of them would lose all their value.
“Don’t get me started on Bitcoins,” he said, emphasizing his critical position. This view is not isolated. Warren Buffett, Munger’s business partner, had previously referred to Bitcoin as a “gambling token”.
Despite criticism, the cryptocurrency market has shown resilience. After a crash in 2022 that took more than $200 billion off its value in a single day. At the time of publication, the price of Bitcoin today was quoted at US$27,930.00, up 1.6% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.