Berkshire Hathaway Inc vice chairman Charlie Munger on Tuesday trashed cryptocurrencies in the wake of the FTX fallout.
"This is a very, very bad thing. The country did not need a currency that was good for kidnappers," Munger said in an interview on CNBC's "Squawk Box."
What To Know: Munger, the right-hand man of Warren Buffett, has long been opposed to Bitcoin and other digital currencies. His comments come as the entire crypto industry is in peril. Follow
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"I see people who were once regarded as very reputable people helping these things exist," Munger said.
"There are people that think that you've got to be in on every deal that's hot, and they don't care whether it's child prostitution or Bitcoin."
The FTX decay is widespread and the entire crypto industry is being viewed like a bottle of hemlock — don't drink me.
Munger noted that Rome took a long time to decline from its peak, and suggested that the same could happen to other civilizations. All of the people who a...