How Charlie Munger strangely inspired Elon Musk to never give up on Tesla

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The right-hand man of Warren Buffett’s Berkshire Hathaway, Charlie Munger, recently dropped a provocative bombshell on the crypto world, after he likened the frenzy around bitcoin and altcoin adoptions to “venereal disease.” A disgusted Charlie, during a question-and-answer session at the Los Angeles-based Daily Journal Corp, openly blurted out:

“I’m proud of the fact that I avoided it. It’s like a venereal disease. I just regard him as under contempt. Some think it’s modernity, and they welcome a currency so useful for extortion and kidnapping [and] tax evasion.”

Charlie, a 98-year-old billionaire who has remained an outspoken critic of developments around cryptocurrencies, spared no horse to express, once again, his distaste for the hype and growth around cryptocurrencies. . Following in the footsteps of his boss, Warren Buffett, who once called crypto the death of a rat, Charlie has once again riled the crypto Twitter community, sparking a flurry of backlash that relegates his views on crypto to the realm of obsolescence.

Of all the comments posted, Elon Musk’s was widely received as tech king Tesla accompanied Charlie Munger to Charlie Munger for a one-on-one chat in 2009, about how his verbal pessimism about the Tesla’s concept nearly drained Elon of the enthusiasm needed to start Tesla.

By Elon’s tweet, observers inferred the veteran investor’s tendency to be on the wrong side of history with crypto. Mungo’s reiteration of a lot of the bad news that has clouded the use of cryptocurrencies – not uncommon in the case of fiat currencies – shows that the demographics that have supported bitcoin over the past few years are far superior. to that of Munger.

But a quick look at the Berkshire Hathaway books where Munger had served for 44 years shows how, contrary to the opinions expressed, he can rethink his perceptions about crypto investing. The latest $1 billion investment in Brazilian bank Nubank showed that Warren Buffett is ultimately interested in reaping reasonable gains from companies that are attuned to modern innovations not excluding cryptocurrencies.

Nubank in May last year won over Bitcoin ETF issuing company Eazynvest to capture crypto investors across Latin America. By proxy, Buffett can be called a crypto investor, having funded the growth of Latin America’s largest bank into Fintech and crypto services.

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