Legendary investor Charlie Munger pulled no punches when it came to offering his latest anti-cryptocurrency views on Wednesday.
In Munger's view, traditional currencies have helped turn man "from a successful ape to a [successful] human," he said during the Daily Journal’s shareholder meeting in Los Angeles on Wednesday. Munger said claims cryptocurrencies can replace national currencies are the equivalent of saying that air can be replaced.
"It isn't even slightly stupid, it's massively stupid, and of course it's very dangerous, and of course the governments were totally wrong to permit it," Munger told CNBC's Becky Quick during a livestream of the event.
"And of course, I am not proud of my country for allowing this crap — well, I call it crypto shit. It's worthless, it's crazy, it's not good, it'll do nothing but harm, it's antisocial to allow it."
Will the U.S. government get rid of cash eventually?
