{"id":237972,"date":"2022-05-02T15:00:00","date_gmt":"2022-05-02T15:00:00","guid":{"rendered":"https:\/\/omni48.com\/news\/charlie-munger-slams-stupid-and-evil-bitcoin-says-communist-china-s-leader-was-right-to-ban-it"},"modified":"2022-05-02T15:00:00","modified_gmt":"2022-05-02T15:00:00","slug":"charlie-munger-slams-stupid-and-evil-bitcoin-says-communist-china-s-leader-was-right-to-ban-it","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/charlie-munger-slams-stupid-and-evil-bitcoin-says-communist-china-s-leader-was-right-to-ban-it","title":{"rendered":"Charlie Munger Slams &#8216;Stupid&#8217; and &#8216;Evil&#8217; Bitcoin, Says Communist China&#8217;s Leader Was Right to Ban It"},"content":{"rendered":"<p>It&#8217;s no secret that Berkshire Hathaway and its owner\/CEO Warren Buffett aren&#8217;t ardent backers of Bitcoin; just a few years ago, the billionaire investor referred to the cryptocurrency as &#8220;rat poison squared.&#8221; But at the conglomerate&#8217;s annual shareholders meeting on Saturday, Buffett gave the most comprehensive reason yet for his distrust of Bitcoin, and vice chairman Charlie Munger had some choice words for it too, CNBC reports. Despite a rocky market in recent months, Bitcoin and other cryptocurrencies remain attractive to some investors. But Buffett said that Bitcoin isn&#8217;t a productive asset, as it doesn&#8217;t produce anything tangible. Although he couldn&#8217;t say for sure if Bitcoin would be up or down in a decade&#8217;s time, he did note its appeal, saying, &#8220;It&#8217;s got a magic to it, and people have attached magic to lots of things.&#8221; Bitcoin&#8217;s staunchest advocates generally consider the cryptocurrency a passive asset to be bought and held, hoping its price climbs over time. But some investors<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During Berkshire Hathaway&#8217;s annual shareholders meeting, Munger and Warren Buffett ripped into the cryptocurrency.<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36,1],"tags":[],"class_list":["post-237972","post","type-post","status-publish","format-standard","hentry","category-markets","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/237972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=237972"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/237972\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=237972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=237972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=237972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}