Gordon Johnson Revives Charlie Munger’s Criticism Of Bitcoin As ‘Rat Poison,’ Calls It ‘Worthless’ With BTC Falling Below $100,000: ‘Purely Speculative Tulip That’s In A Bubble’
Posted On December 20, 2024
GLJ Research CEO Gordon Johnson intensified criticism of Bitcoin (CRYPTO: BTC) on Thursday, echoing late Berkshire Hathaway Inc. Vice Chairman Charlie Munger‘s skepticism and targeting major financial institutions for their role in cryptocurrency markets.
What Happened: “Bitcoin, as Charlie Munger said, is rat poison,” Johnson wrote on X. “It has no use case, generates no value/cash-flow, & is worthless.” He specifically called out BlackRock Inc. and Fidelity Investments for profiting from trading fees while fueling what he describes as a speculative bubble.
Johnson’s comments come as Bitcoin trades near $97,843, after recently surpassing the $100,000 mark. He emphasized that crypto miners quickly convert Bitcoin to traditional currency to …
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