In his own words
Munger on Crypto
7 sourced quotes. All themes
“I think it's rat poison... So it's more expensive rat poison.”
Munger called bitcoin 'rat poison' in 2013 (BTC ~$150) and 'more expensive rat poison' by 2018. Distinct from Warren Buffett's separate 'rat poison squared' line.
“I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization.”
“It's like someone else is trading turds and you decide you can't be left out.”
“Bitcoin is noxious poison.”
Distinct from his earlier 'rat poison' bitcoin line (2013); said at the 2018 meeting.
“Of course, I hate the bitcoin success. And I don't welcome a currency that's useful to kidnappers and extortionists, and so forth. Nor do I like just shuffling out of extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air.”
From the same 2021 answer as his 'disgusting… contrary to the interests of civilization' line — a distinct sentence.
“I admire the Chinese for banning it. I think they were right, and we've been wrong to allow it.”
“Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it was the pursuit of the uneatable by the unspeakable.”
He applies to Bitcoin a line he credits to Oscar Wilde (inverting Wilde's original).