As 97-year-one-time investment veteran Charlie Munger continues scolding cryptocurrencies like Bitcoin (BTC), the crypto community quickly responded to his latest comments.

On Fri, the vice-chairman of Warren Buffett'southward Berkshire Hathaway spoke of crypto at Australia's investor event, the Sohn Hearts & Minds Conference, reiterating his farthermost skepticism to the manufacture, local news agency The Sydney Morn Herald reported.

A known cryptocurrency naysayer, Munger has provided some fresh remarks on the crypto industry, arguing that the current crypto ecosystem is even crazier than the dot-com era overall. "I recall the dot com nail was crazier in terms of valuations than even what we take at present," he noted.

Munger also stressed that he supported People's republic of china's latest endeavour to ban cryptocurrency and crackdown on "some of the exuberances" of capitalism, stating:

"Believe me, the people who are creating cryptocurrencies are not thinking almost the customer, they are thinking about themselves [...] ​​I want to make my coin by selling people things that are skilful for them, not things that are bad for them."

Several people in the crypto community take subsequently reacted to Munger's latest comments on Bitcoin. Many pointed out that the inability to understand new tech like Bitcoin at his historic period is not a surprise.

"I'g never going to buy a cryptocurrency. I wish they'd never been invented," Munger added.

Synthetix founder Kain Warwick also emphasized that despite Munger'south willingness to make money by selling practiced things, Berkshire Hathaway is the largest shareholder of Coca-Cola, which is supposed to be a "significant contributor to many health weather."

Jamil Hasan, plan director of crypto and blockchain podcast serial The Crypto Corner, noted that the manufacture should not exist bothered by Munger not investing in crypto: "I'1000 ok if Charlie Munger doesn't buy crypto. I'm certain there are some things that Charlie buys that I don't need."

Some crypto industry players also emphasized that China attempted to ban Bitcoin multiple times over the past eight years, but it did not prevent the cryptocurrency from surging over 5,000%.

Related: Institutional managers bought the dip as crypto funds see $154M in weekly inflows

While some investment legends like Munger keep maintaining a hard stance on crypto, other investment giants such equally SkyBridge Capital letter are getting increasingly bullish on Bitcoin. As such, Anthony Scaramucci's platform for investing in hedge funds grew its exposure to crypto-related assets by nearly 150% in Q3.