Charles Munger, vice chairman of Berkshire Hathaway and longtime partner of Warren Buffett, has died at the age of 99. This information was provided by Reuters. In recent years, he has been known for his comments expressing skepticism about digital gold.
“Berkshire Hathaway could not have reached its current status without Charlie's inspiration, wisdom and participation,” his friend and fellow Berkshire Hathaway member Warren Buffett paid tribute to Munger.
Over the past 44 years, the company they run has posted a CAGR of ~20% —double the S&P 500.
Munger was an ardent opponent of cryptocurrencies and blockchain technologies. In 2021, he compared Tesla and Bitcoin to “a louse and a flea ,” and also questioned the ability of digital gold to “become a global means of payment.”
In 2022, he called cryptocurrencies “an investment in nothing” and praised China for banning them. Munger later criticized the US authorities for not banning digital assets and called everyone who disagrees with his position “idiots.”
Let us recall that in October 2023, the former vice chairman of Berkshire Hathaway allowed most cryptocurrencies to collapse to zero.
