CNBC host Joe Kernen has criticized billionaire Charlie Munger, because this person doesn’t understand anything about bitcoin and keeps talking about bitcoin.
On CNBC’s Squawk Box, Kernen said billionaire Charlie Munger’s comments about bitcoin were bullshit because he didn’t understand bitcoin.
Munger says the US should ban cryptocurrencies completely, like China did, and likens investing in bitcoin to gambling.
Even in an interview, Munger said cryptocurrencies like bitcoin are “dirt”.
“Sometimes I call them damn. It’s ridiculous that someone buys these things,” he said.
Munger went on to call cryptocurrencies “worthless”, “bad”, “crazy” and “extremely stupid”, adding that crypto is “antisocial” and advises people to stay away from bitcoins.
Following Munger’s series of comments, CNBC host Joe Kernen told Munger that if he doesn’t understand crypto, don’t comment.
“I don’t think he understands crypto. Apparently he didn’t read anything about The Bitcoin Standard,” Kernen said.
The Bitcoin Standard, written by Saifedean Ammous, is a book about the evolution of money around the world, in which it states that Bitcoin will eventually emerge as the world’s currency of choice.
See also: Charlie Munger: “Investing in Cryptocurrencies is Crazy”