The views on Bitcoin among various investors are quite polarized. The whole spectrum includes both people directly owning the cryptocurrency and those who seem to hate it. We have read analyses suggesting that a surprising percentage of hedge fund managers own digital coins. At the same time, Warren Buffett’s investment chief, Charlie Munger, called Bitcoin “noxious poison.” Do such words mean that Bitcoin is doomed? In an article on the Guardian website, we read:

Bitcoin is heading towards $10,000 again, despite comments from the US billionaire Charles Munger who described the digital currency as “noxious poison”.

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Speaking at the annual meeting of the US publishing firm Daily Journal, which he chairs, in Los Angeles on Wednesday, Munger said: “I never considered for one second having anything to do with it. I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.”

Bitcoin is rising towards $10,000, a level it has not seen since 1 February. It hit $9,977 earlier on Thursday and is now trading at around $9,580, up nearly 1%.

Munger called for a government crackdown on the cryptocurrency, similar to the one in China, saying: “Our government’s more lax approach to it is wrong. The right answer to something like that is to step on it hard.”

Investors like Charlie Munger have tremendous expertise in picking specific kind of stocks, in particular companies which seem relatively “cheap”. This is the cornerstone of what is described as value investing. At the same time, they are not really interested in macroeconomics, technology, currencies and so on. On some level, it is easy to label something which has appreciated markedly a bubble. Our point here is not to disregard the quite worrying magnitude of Bitcoin appreciation to $20,000 and the recent slide. We do believe, however, that you can’t have a complete picture not considering the details of the currency. And so, we would like to give you just a bit of flavor why Bitcoin is not necessarily done.