Elon Musk has shared an inspiring story about how Charlie Munger chose to dismiss Tesla back in 2009 following the latter’s scathing comments about #Bitcoin
Tesla CEO Elon Musk addressed controversial cryptocurrency-related comments recently made by Berkshire Hathaway VP Charlie Munger, recalling how the latter acted with contempt towards the pioneering electric car maker .
The centibillionaire claims that Munger once told the “whole table” that the company would fail at a lunch. While Musk admits that the biting comment saddened him, he told Munger that it was “worth trying” to make Tesla a success in spite of the low chance of success.
Musk’s story of perseverance and determination has drawn much comment from members of the investment community, including MicroStrategy CEO Michael Saylor and Dogecoin co-founder Billy Markus. Some also shared hilarious stories revolving around Musk’s nasty interaction with Munger while others simply praised him for giving the “best answer ever”:
Tesla and Berkshire Hathaway
Musk became richer than Berkshire Hathaway CEO Warren Buffett back in July 2020. Last year, his net worth topped $300 billion.
While praising Musk for doing “remarkable things,” the Oracle of Omaha chose not to invest in Tesla. Musk mocked Buffett last October, to suggest that the former should invest in the shares of the electric car manufacturer to get rich.
As reported by U.Today, Munger compared Bitcoin and Tesla “to a louse and a flew” last year, quoting English writer Samuel Johnson:
Sir, there is no question of settling the point of precedence between a louse and a flea.
Munger also took a dig at Musk himself, pointing to his excessive confidence:
Never underestimate the man who overestimates himself. Some of the extreme success will come from people who try very extreme things because they are overconfident.
Crypto is like some “venereal disease”
As reported by U.Today, the legendary investor likened cryptocurrencies to “some venereal disease” during a recent event, a scathing remark that has riled up the cryptocurrency community.
Munger also reiterated his praise for China’s controversial Bitcoin ban.
The billionaire is also proud of the fact that he has never touched cryptocurrencies despite their continued adoption.
Many in the cryptocurrency community have criticized the 98-year-old investor for being out of touch with modern technology.
Warren Buffett’s right-hand man also voiced his concerns about high inflation, coaming that it poses a threat to democracy, a comment that somehow resonated with the crypto community.
