Months after Berkshire Hathaway ploughed $1 billion into a Brazilian digital bank with ties to cryptocurrency, company vice chairman Charlie Munger had some choice words for Bitcoin and its kind.
“I certainly didn’t invest in crypto. I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something. I just regard it as beneath contempt,” Munger said during the annual meeting of the publisher Daily Journal Corp, where Munger serves as chairman.
Munger, the 98-year-old billionaire investor, has criticized Bitcoin in the past, calling the digital currency “rat poison” and, on Wednesday, said cryptocurrency should be banned, noting he “admire[s] the Chinese for banning it” already.
Yet Munger’s harsh words for Bitcoin strike a glaring contrast to reports on Wednesday that Berkshire Hathaway—the investment fund Munger manages with famed investor Warren Buffett—had invested $1 billion in Nubank, a Brazilian digital bank with a Bitcoin-friendly outlook.
Berkshire first bought into the São Paulo-based bank in June last year, investing $500 million in…
