Buffett and Munger Still Dislike Bitcoin and Cryptocurrency. Should You?
Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) hosted its 2022 annual shareholders meeting on Saturday. It was the first in-person meeting since 2019. As usual, Warren Buffett and Charlie Munger discussed many key topics and offered deep insights.
In the opening remarks, Buffett praised the U.S. dollar as a means of exchange even during inflationary times, in part because it's backed by the federal government. Without saying it, he seemed to imply that Bitcoin (CRYPTO: BTC) and its crypto alternatives will never replace the U.S. dollar because decentralized currency doesn't come with the same guarantees.
To be fair, Munger -- who never hides his aversion to cryptocurrency -- wasn't so subtle. In response to one question about inflation and what inflation-resistant stock to invest in, Munger said, "I got some advice for you, too. If your friendly advisor suggests you put all of your money into Bitcoin, just say no."
Source Fool.com
