DID BUFFETT & MUNGER SAY IT – OR NOT? TAKE OUR BERKSHIRE HATHAWAY FUN QUIZ!!!
Legendary investors Warren Buffett and Charlie Munger of Berkshire Hathaway have been less than complimentary once more about crypto. And it’s always prudent to say “once more” because, given their combined age of 189, each time could be the last.
This week, 98-year-old Munger called crypto “demented” and “a very, very bad thing. The country did not need a currency that’s good for kidnappers and so on.” This follows comments earlier this year where he likened crypto markets to “an open sewer, full of malicious organisms.”
But what else have the Statler and Waldorf of crypto had to say about it over the years? Tell us whether you think the following mutterings from the curmudgeonly nonagenarians are True? Or False? The answers are at the bottom of the page.
Question 1) Did Warren Buffett describe Bitcoin as “rat poison squared”?
2) Did Charlie Munger call Bitcoin “disgusting and contrary to the interests of civilization”, or was he talking about TikTok?
3) Did Charlie Munger say of Bitcoin, “It reminds me of what Oscar Wilde said. He said nowadays people know the price of everything and the value of nothing.”
4) Did Warren Buffett say, “Bitcoin has no unique value at all, it doesn’t produce anything. You can stare at it all day and no little Bitcoins come out.”
5) Did Warren Buffett say, “If you told me you owned all the bitcoin in the world and you offered it to me for $100, I wouldn’t take it. What would I do with it?”
6) Did Charlie Munger say of crypto, “I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something.”
1) TRUE! Warren Buffett did describe Bitcoin as “rat poison squared.” Not the most flattering description but at least he acknowledged its ability to compound.
2) TRUE! Munger did say that Bitcoin was “disgusting and contrary to the interests of civilisation.” But only because he’s never heard of TikTok.
3) FALSE! Charlie would never be that polite about Bitcoinists. He actually said, “Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it was the pursuit of the uneatable by the unspeakable.”
4) TRUE! I wonder what Warren would make of father of nine, Elon Musk, who seemingly only has to look at a woman before little Elons come out of her.
5) FALSE! It was a trick question, I’m afraid. Buffett said he wouldn’t exchange all the bitcoin in the world for even $25. Though surely the answer to “What would I do with it?” is give it to your great grandson to fund a $300 billion Lego city on Saturn.
6) TRUE! Though surely Sandbox sounds like a worse STI than Bitcoin?
How did you score?
6 – Pizza Hut buffet
5 – Jimmy Buffett
4 – Warren Buffett
3 – Cheese monger
2 – Fish monger
1 – Charlie Munger