Elon Musk Reveals Crypto Hater Charlie Munger’s Big Mistake

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Gamza Khanzadaev

Crypto hater and Warren Buffett’s right-hand man Charles Munger missed a huge Tesla chance, Elon Musk explains how

Tesla founder and current Twitter owner Elon Musk has revealed that Charles Munger, an economist and investor, may have invested in the electric car company in 2008 when it was still valued at $200 million. By comparison, Tesla’s current capitalization is about 3,000 times larger, at around $615 billion. At its peak in November 2021, the company was valued at $1.23 trillion.

Musk’s followers were quick to sarcastically assess the expertise of Munger, described by media as Warren Buffett’s right-hand man, in tech investing, notably recalling his tough rhetoric on Bitcoin (BTC) and crypto. -currencies. Chris Burniske, analyst and former head of crypto at ARK Invest, said Munger knew exactly how to miss a chance of thousands of percent returns.

Munger knows how to miss a 1000x when he sees one. https://t.co/Xh8gqVbOxb

Chris Burniske (@cburniske) February 26, 2023 Boomer Signal

Earlier, 99-year-old Munger published an article declaring that crypto assets are nothing more than gambling contracts, calling them “rat death”. He also called on US authorities to follow in China’s footsteps and ban cryptocurrencies.

Interestingly, the cryptocurrency regulatory nightmare in February began immediately after repeated calls for a ban on Munger in the first half of the month. It’s funny because the withdrawal from the crypto market in December 2021 started right after a new round of criticism from the investor. Since then, his speeches on cryptocurrencies have become something of a baby boomer signal, expressing public outrage.

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