Berkshire Vice President: Investing in Bitcoin is Pointless

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As per Berkshire’s Vice President Charlie Munger, there is absolutely no reason to buy into the hype surrounding Bitcoin.

He firmly believes that the cryptocurrency market is bound to collapse since it lacks real support and is driven solely by speculation.

During his talk at the Zoomtopia 2023 conference the previous week, Munger reiterated his prediction of the imminent downfall of most digital currencies.

He stated that the market’s destruction will occur rapidly, making any investment in such instruments nonsensical.

Munger stated:

“A majority of these investments will eventually become worthless, and I won’t even start on the impracticality of switching to Bitcoin.”

Peter Schiff, another prominent critic of BTC, argues that only gold can serve as a reliable protection of capital for both retail and institutional investors. He recently labeled Bitcoin hodlers as “zealots,” stating that their behavior resembles that of a religious cult.