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Crypto Twitter Shows No Respect for Age in Responding to Charlie Munger's Bitcoin Dis
To no one's surprise, the bitcoin community hit back at the Berkshire Hathaway executives comments.
Berkshire Hathaway Vice Chairman Charlie Munger took no prisoners in attacking bitcoin during the multinational conglomerate's annual meeting Saturday.
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And to the surprise of no one, the bitcoin community on Crypto Twitter responded in kind, showing little to no respect to the 97-year-old executive. Some responders treated Munger's attack as a stereotypical elderly person's lack of tech savvy or even a "Get off my lawn!" type of outburst.
Other comments from Crypto Twitter took issue with Munger's view that the leading cryptocurrency is bad for civilization when Berkshire Hathaway is a major owner of Coca-Cola, maker of sugary drinks, and has owned tobacco stocks over the years. Still others found it ironic he criticized bitcoin's use in crime when many of the financial giants in which Berkshire has invested have been fined by regulators.
So without further ado, here are some of the kinder tweets:
Charlie Munger and Warren Buffett on #Bitcoin make me think of these two pic.twitter.com/8XC4kxHTN6
— Nathan Butler ∞/21M #hodling since 2014 (@waldondb) May 2, 2021
Your government just printed $5trillion out of thin air 🤡 🤡 🤦♂️
— Dragan (@dragan2matic) May 1, 2021
BREAKING: #Bitcoin price entirely unaffected by comments of Charlie Munger.
— Wealth Theory ™ (@Wealth_Theory) May 1, 2021
Irrelevant.
Charlie Munger said that Bitcoin is “disgusting,” but why should anyone care?
— NewsCrypto.io (@NwcPublic) May 2, 2021
That’s like worrying what the CEO of a steam engine company thinks of the latest Tesla. pic.twitter.com/Jl7qz9VAMc
Bitcoin may be contrary to Charlie Munger’s idea of civilization.
— Alex Gladstein 🌋 ⚡ (@gladstein) May 1, 2021
But for many less privileged than he, a neutral, open-source, permissionless, censorship/confiscation-resistant financial system beyond the control of corps + govts is *much* more civilized than the status quo. https://t.co/gFGsEY2ntN
Wherever Coca Cola is distributed diabetes goes on the rise immediately afterwards. That’s definitely in the interest of our civilization. Buffet+Munger were the largest shareholders in Coke. pic.twitter.com/dx5C8Ms7ev
— Bitcoin Daily Substack (@PsixteenR) May 2, 2021
*MUNGER SAYS CRYPTO, RISE OF BITCOIN IS `DISGUSTING'
— zerohedge (@zerohedge) May 1, 2021
Have fun staying a billionaire
“I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do”-Charlie Munger
— Nikunj Modi 🌋 (@nikunjmodi89) May 1, 2021
(Such a wise words to live by but his opinion on bitcoin proves he is human too after all)
If you think Charles Munger hates Bitcoin wait till he hears about @dogecoin @elonmusk 🚀
— ꧁ 𝒜𝓂𝒶𝓃 ꧂ (@DefiSociety) May 2, 2021
A year ago #Bitcoin market cap was about equal to Berkshire’s cash position, now it’s seven times larger at $1 trillion. And it is worth 2/3 more than Berkshire in total. Not disgusting, just the future of monetary technology. Munger hasn’t a clue. Nor does Buffett. https://t.co/VFhsEBDGnS
— moneyordebt ∞/21M (@moneyordebt) May 2, 2021
The short rebuttal to Munger’s view goes like this: Civilization is largely the art of lowering time preference, nothing incentivizes lower time preference like sound money, and #Bitcoin is the soundest money ever invented.
— Michael Hartl (@mhartl) May 1, 2021
Warren Buffet & Charlie Munger haven't beaten the S&P 500 for the past 15 years.
— Crypto Hottie #9.NFT 🦇🔊 (@elwalvador) May 1, 2021
They also don't know how to set the time on their VCRs or how to send emails but sure I guess I'll take their advice on Bitcoin & also buy value stocks.
And those were the nice ones.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
