Charlie Munger, co-founder of US giant Berkshire Hathaway, said in February that investors should not buy Bitcoin and other virtual coins.
The cryptocurrency is trying to get the status of digital gold, however, due to the volatility of BTC, it has not earned the right to be called a safe-haven asset.
Munger has reaffirmed his position this week and has called the crypto sphere a “sewer” in an interview with the Australian Financial Review. All virtual coins, according to him, have no real value. This industry is flooded with scammers.
Munger called those people who bought Bitcoins crazy. Cryptocurrency causes more harm to the environment. In addition, it is used by criminals for money laundering, he has said.