Why do people invest in crypto? ‘It’s partly fraud and partly delusion,’ says Charlie Munger.

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“The country did not need a currency that’s good for kidnappers.” — Charlie Munger

Charlie Munger, vice chairman of Berkshire Hathaway is not a big fan of crypto, and he shared some frank thoughts about it in the wake of the FTX bankruptcy filing.

“It pains me that in my own country I see people that were once regarded as very reputable people helping this thing exist, promoting [its] use and so forth,” he said in a CNBC interview that aired on Tuesday. “This is a very bad thing.”

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