Elon Musk has the ‘best answer ever’ to Charlie Munger’s crypto critique

Tesla CEO Elon Musk has responded to controversial crypto-related comments recently made by Berkshire Hathaway Vice Chairman Charlie Munger by repeating how Munger dismissed pioneering electric car maker Wind.

Elon Musk (left) and Charlie Munger (right)

The billionaire claims Munger once told “the whole table” the company was going to fail over lunch. While Musk admitted he was saddened by the bitter comment, he told Munger it was “worth trying” to make Tesla successful despite the slim odds.

“I attended a luncheon with Munger in 2009. There he spoke to the table about how Tesla would fail. It upsets me quite a bit but I’ll say I agree with all the reasons & that we’re likely to fail but it’s still worth a try.” tweet.

Musk’s history of persistence and determination drew many comments from members of the investment community, including Michael Saylor, CEO of MicroStrategy, and Billy Markus, co-founder of Dogecoin. Some also shared hilarious stories centered around Musk’s nasty interactions with Munger, while others simply praised him for giving “the best answer ever”:

Tesla and Berkshire Hathaway

In July 2020, Musk got richer than Berkshire Hathaway CEO Warren Buffett. Last year, his net worth reached $300 billion.

While Musk was praised for “some notable things,” Omaha’s prophecy chose not to invest in Tesla. Last October, Musk joked that Buffett should invest in the electric-car maker’s stock to get richer.

Munger compared Bitcoin and Tesla “to a lice and a flea” last year, quoting British writer Samuel Johnson:

“Sir, nothing breaks the precedent between the lice and the fleas.”

Munger also criticized Musk for being overconfident:

“Never underestimate someone who overestimates themselves. Some of the breakthrough achievements will come from people trying to do extreme things because they are overconfident.”

Cryptocurrencies are like a “sexually transmitted disease”

The legendary investor compared cryptocurrencies to “some sexually transmitted diseases” during a recent event. This harsh comment sent shockwaves through the crypto community.

Munger also reiterated his praise for China’s controversial Bitcoin ban.

The billionaire also boasts that he has never encountered cryptocurrencies, although they continue to be accepted.

Many members of the community criticized the 98-year-old investor for being unfamiliar with modern technology.

Warren Buffett’s right-hand man also expressed concern about high inflation, claiming it poses a threat to democracy, a comment that has resonated in the crypto community.

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