Charlie Munger, the vice president of Berkshire Hathaway and a close advisor to Warren Buffett, has once again expressed his skepticism towards artificial intelligence (AI) and his disdain for Bitcoin. At the recent Zoomtopia conference, Munger noted that AI is getting too much attention and probably more than it deserves, despite its importance in various economic sectors.
Munger, 99, has been consistent in his distrust of AI, insisting that traditional intelligence works well and that exaggerated expectations surround AI. Despite recognizing its potential, Munger sees AI as a mixed blessing and considers utopian notions about AI to be crazy exaggerations.
When it comes to cryptocurrencies, Munger didn't mince words. He called the investment in Bitcoin “the stupidest” he has ever seen and stated that cryptocurrencies are destined to be worthless.
Despite Munger's skepticism and his stance shared by Warren Buffett and others, not all investors agree with Bitcoin's valuation. Michael Saylor, president of MicroStrategy, urges critics like Munger to study Bitcoin more thoroughly. On the other hand, BlackRock executives anticipate the approval of multiple Bitcoin ETFs in the US.
Despite Munger's opinion, both AI and cryptocurrencies continue to be areas of interest and active exploration for many companies on Wall Street.
This is a reminder that in the financial world, opinions on technology and investing can vary widely, and the evolution of AI and cryptocurrencies remains a hot topic of debate in the world of investing and technology.
Disclaimer: The information presented does not constitute financial, investment, trading or other advice and is solely the opinion of the writer. Images are for illustrative purposes only and should not be used for making important decisions. By using this site, you agree that we are not responsible or liable for any loss, damage or injury arising from the use or interpretation of the information or images.
