![\"Charlie](\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/106877015-1619963296800-106877015-1619899401300mungeralone-jpg.jpg?v=1619963312&w=740&h=416\")
<\/picture><\/div>\n<\/div>\n<\/div>\nBerkshire Hathaway<\/a>\u00a0Vice Chairman Charlie Munger\u2019s disdain toward bitcoin has only intensified amid the digital asset\u2019s record run this year.<\/p>\n \u201cOf course I hate the bitcoin success,\u201d the 97-year-old Munger said during a Q&A session at Berkshire\u2019s annual shareholder meeting Saturday. \u201cI don\u2019t welcome a currency that\u2019s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.\u201d<\/p>\n \u201cI think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization,\u201d said Munger, a legendary investor in his own right.<\/p>\n Warren Buffett, who avoided the initial question on bitcoin earlier, responded to Munger\u2019s answer: \u201cI\u2019m alright on that one.\u201d<\/p>\n The \u201cOracle of Omaha\u201d said he didn\u2019t want to comment directly on the digital token because he didn\u2019t want to get grief from everyone who is long.<\/p>\n The world\u2019s largest cryptocurrency enjoyed a head-turning rally this year, topping $60,000 apiece in April as involvement from Tesla to major Wall Street banks made bitcoin mainstream. Tesla recently\u00a0made a $1.5 billion bet on bitcoin<\/a>\u00a0and now\u00a0accepts the digital currency as a method of payment<\/a>\u00a0for its cars. Meanwhile,\u00a0Goldman Sachs<\/a>\u00a0and\u00a0Morgan Stanley<\/a>\u00a0are\u00a0looking to offer their wealthy clients some exposure to bitcoin<\/a>.<\/p>\n Bitcoin<\/a> last traded above $57,000, up from about $30,000 at the start of 2021, according to Coin Metrics.<\/p>\n Munger has long criticized bitcoin for its extreme volatility and a lack of regulation. At the annual\u00a0shareholders meeting for Daily Journal in February,<\/a>\u00a0Munger said bitcoin is too volatile to serve well as a medium of exchange.<\/p>\n \u201cIt\u2019s really kind of an artificial substitute for gold. And since I never buy any gold, I never buy any bitcoin,\u201d Munger said then. \u201cBitcoin reminds me of what Oscar Wilde said about fox hunting. He said it was the pursuit of the uneatable by the unspeakable,\u201d he added.<\/p>\n