K. Markets

CNBC reported earlier that the 97-year-old Charlie Munger, Berkshire Hathaway Vice Chairman, has called bitcoin “disgusting and contrary to the interests of civilization” at Berkshire’s annual meeting with its shareholders.

Munger further explained and said:

I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air…. I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization.

Anthony Pompliano, one of the co-founders of Morgan Creek, made a brilliant response to the old Munger’s statement:

Now people, tell me who is the one “disgusting and contrary to the interests of civilization”?

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