Charlie Munger is Berkshire Hathaway's co-chairman, and on April 30 at the firm's shareholder meeting, he said:
[bitcoin] is stupid because it's very likely to go to zero.
Berkshire Hathaway chairman Warren Buffet also expressed a negative sentiment toward the cryptocurrency.
Bitcoin's recent price action appears to support the views of the two billionaire investors, at least at this juncture.
Here's a CNBC headline from the evening of May 9:
Bitcoin dips below $30,000, drops more than 56% from its all-time high
Keep in mind that just days ago, the cryptocurrency was trading north of $40,000. The last time Bitcoin traded below $30,000 was last July. As you might imagine, many crypto investors were quite fearful then.
Indeed, a July 9, 2021 Bloomberg headline captured the sentiment of the global chief investment officer of a major financial firm:
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My opinion - bitcoin will fall to the area of 10,000 There is a good technically pattern of 3 peaks and a doomed house . On a large time frame very often works. It implies such a drop