Warren Buffett’s longtime business partner says cryptocurrencies are “like a venereal disease”. 

Charlie Munger, right hand man to one of the most successful investors in the world, has unleashed on the “wretched excess” for venture capital and bitcoin, going so far as to call for cryptocurrencies to be banned.

“I wish it had been banned immediately, and I admire the Chinese for banning it,” Mr Munger said this week. 

“I certainly didn’t invest in crypto. I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something. I just regard it as beneath contempt.”

The 98-year-old billionaire has previously called bitcoin “rat poison”.

“Certainly the great short squeeze in GameStop was wretched excess, certainly the bitcoin thing is wretched excess,” Mr Munger said. 

“I would argue that venture capital is throwing too much money too fast, and there’s a considerable wretched excess in venture capital and other forms of private equity.”

Mr Munger’s full talk can be seen below.