‘Never Buy It’ – Warren Buffett’s Right Hand Issued Crypto Warning After Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Price Crashes Led By Terra Luna

Bitcoin
BTC
and cryptocurrency prices have crashed in recent weeks, falling sharply in a crash partly triggered by the implosion of the stablecoin terra and its support coin luna.

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The price of bitcoin crashed below $20,000 per bitcoin from nearly $70,000 at the end of last year and dragged down the other top ten cryptocurrencies including Ethereum, BNB
BNB
XRP
XRP
cardano, solana and dogecoin.

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Now, Warren Buffett’s right-hand man, Charlie Munger, has warned people to “never buy” bitcoin or other cryptocurrencies, calling those in the crypto industry “delusional or evil.”

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“Crypto is not an investment in anything,” Munger, vice president of Buffett’s Berkshire Hathaway
BRK.B
say it Australian Financial Review. “I consider it almost foolish to buy or trade this stuff.”

Munger and Buffett have previously denounced bitcoin and cryptocurrencies, comparing the crypto market to a casino.

“I think maybe selling this stuff is either delusional or evil,” Munger said, adding, “I’m not interested in undermining the national currencies of the world.

The price of bitcoin, ethereum and other major cryptocurrencies have plunged in recent weeks, wiping over $2 trillion from the combined crypto market and triggering a wave of bankruptcies, mass layoffs and the collapse of some projects, such as the terra stablecoin and its support. luna coin.

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At Berkshire Hathaway’s annual shareholder in April, Buffett explained his long-standing aversion to bitcoin, attributing it to bitcoin providing nothing tangible, unlike businesses or property. His comments led to Tesla
TSLA
billionaire Elon Musk mocks the legendary investor on Twitter.

Buffett has previously called bitcoin “delusional” and “squared rat death.”