‘Never buy it’ — Warren Buffett’s right-hand man issued a strong crypto warning after Terra Luna-led Bitcoin, Ethereum, BNB, XRP, Solana, Cardano and Dogecoin crashes

BitcoinBTC
and cryptocurrency prices have collapsed in recent weeks, falling sharply in a crash partly triggered by the implosion of terra stablecoin and its supporting currency luna.

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The Bitcoin price has crashed below $ 20,000 per bitcoin, down from almost $ 70,000 late last year, pulling down other top ten cryptocurrencies, including ethereum, BNBBNB
XRPXRP
cardano, solana and dogecoin.

Now Warren Buffett’s right-hand man Charlie Munger has warned people to “never buy” bitcoin or other cryptocurrencies – and label them in the crypto industry “either delusions or evil”.

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“Crypto is an investment in nothing,” said Munger, deputy chairman of Buffett’s Berkshire Hathaway.BRK.B
told Australian Financial Review. “I see it as almost insane to buy these things or trade in them.”

Both Munger and Buffett have previously raged against bitcoin and cryptocurrencies, comparing the cryptocurrency market to a casino.

“I think everyone who sells these things is either delusional or evil,” Munger said, adding: “I am not interested in undermining the national currencies of the world.”

The price of bitcoin, ethereum and other major cryptocurrencies has plummeted in recent weeks, removing more than $ 2 trillion from the combined cryptocurrency market and triggering a wave of bankruptcies, mass layoffs and the collapse of some projects, such as terra stablecoin and its support. coin luna.

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At Berkshire Hathaway’s annual shareholder in April, Buffett explained his long dislike of bitcoin, attributing it to the fact that bitcoin does not produce anything tangible – unlike companies or real estate. His comments led to TeslaTSLA
Billionaire Elon Musk taunts the legendary investor on Twitter.

Buffett has previously called bitcoin a “delusion” and “square rat poison.”