Kevin O’Leary, a prominent investor and a regular on “Shark Tank,” has recently expressed his disagreement with the late Charlie Munger‘s views on certain investment avenues.
Kevin O’Leary Says Crypto Critique Was Munger’s ‘Only Mistake’
O’Leary, who has often looked up to Munger as a role model, has now publicly contradicted Munger’s stance on cryptocurrency. Munger, who was Warren Buffett‘s long-time business partner, was known for his strong disapproval of crypto. Despite his admiration for Munger, O’Leary has now openly disagreed with this particular aspect of his mentor’s investment philosophy.
O’Leary, in the latest interview with Business Insider, said that Munger’s dismissal of cryptocurrency as a “scumball activity” and “rat poison” may have been wrong. “The only thing that Charlie got wrong was crypto,” stated that Shark Tank star.
“He may ultimately be right, but there’s been a tremendous amount of value creation,” O’Leary added.
Bitcoin (CRYPTO: BTC), the leading cryptocurrency, has witnessed a tenfold price surge over the past five years. Earlier this year, O’Leary asserted that the “cowboy era” of cryptocurrency had concluded, following President Donald Trump‘s executive order to establish a strategic bitcoin reserve.
SEE ALSO: Ethereum Is Like A ‘Decentralized App Store’: Bernstein – Benzinga
Admiration for Munger Despite Crypto Disagreements
Despite his disagreement over crypto, O’Leary remains a staunch admirer of Munger. He further praised Munger’s investment discipline, acknowledging the significant increase in Berkshire Hathaway’s stock under Munger’s and Buffett’s leadership.
O’Leary speculated that the end of their partnership might have influenced Buffett’s decision to step down as CEO of Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) at the end of this year. Munger, who never officially retired, was the vice-chair of the company at the time of his passing.
On a year-to-date basis, shares of Berkshire Hathaway gained 3.02%, as per Benzinga Pro.
O’Leary Champions Crypto Amid Global Shift
The divergence of views between O’Leary and Munger on cryptocurrency is significant, given the recent legitimization of Bitcoin. Following President Trump’s establishment of a strategic Bitcoin reserve, other G20 nations have begun examining Bitcoin reserves. This move marked a significant shift from the government’s skepticism seen just five years ago.
Earlier in May, O’Leary had defended cryptocurrency against Senator Elizabeth Warren’s opposition to the stablecoin legislation, terming her stance as “un-American.” These instances highlight O’Leary’s positive outlook on cryptocurrency, contrasting with Munger’s negative stance.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
