American economist and professional investor Charlie Munger ranked cryptocurrencies as unreasonable excesses and compared them to a venereal disease. These words of the billionaire, a longtime partner of the popular investor Warren Buffett sounded during a meeting of the Daily Journal Corp.

Munger said he favored an immediate ban on all digital assets and also expressed admiration for the Chinese government's refusal to legalize the cryptocurrency market. The billionaire admitted that he had not invested in cryptocurrency and would not invest his fortune in this sphere in the future. According to him, it reminds him of a venereal disease and he despises it.

Recall, this is not Munger's first attack on cryptocurrencies. Previously, the billionaire also spoke unflatteringly about this sphere, comparing it to "rat poison". He put in the same line with digital assets large injections of investors into new companies which have not yet had time to show themselves in the market. According to him, it is a market surplus, which provokes a surplus of venture capital and other private equity formats.

Microsoft creator Bill Gates has also long warned of the risk of channeling savings into buying bitcoin. In his opinion, people who have less money than Ilon Musk should not go into this field.