MicroStrategy Increases Bitcoin Stash by Raising $722.5M in New Stock Offering

Led by the outspoken Bitcoin advocate Michael Saylor, the company has announced the pricing of a new stock offering designed to raise additional funds for this purpose.

Munger, the billionaire investor and vice chairman of Berkshire Hathaway, expressed his skepticism towards Bitcoin in an interview with the Financial Times. He compared the cryptocurrency to "a nuclear bomb" and warned that it could "destroy civilization."

"I think Bitcoin threatens to destroy civilization," Munger said. "It's like a nuclear bomb, and somebody's going to sell it to the natives."

Munger's comments come as Bitcoin has soared in value over the past year, fueled by a renewed interest in cryptocurrency and the potential for inflation. However, the investor remains unconvinced by the cryptocurrency's fundamentals.

"It's an invention of the devil," Munger said of Bitcoin. "It will come to a bad end."

Munger's pessimism towards Bitcoin is well-known. In 2021, he said that he "wouldn't touch" Bitcoin "with a 40-foot pole."

His comments come as several major corporations have begun to invest in Bitcoin, including Tesla and MicroStrategy.

But Munger remains skeptical, and he believes that the cryptocurrency could have disastrous consequences for the world.

"I don't want to see it happen, but I think it could," Munger said. "And I think it would be a terrible thing for civilization."

Munger's comments are a stark warning about the potential dangers of cryptocurrency. While Bitcoin has become an increasingly popular investment in recent years, it is still a highly speculative and volatile asset class.

It remains to be seen whether Munger's predictions will come to pass. However, his words are a timely reminder of the importance of investing wisely and considering the potential consequences of our actions.