Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday said it is "massively stupid" for tensions to escalate between the United States and China, and separately said cryptocurrency should have been banned, calling it "beneath contempt."

Munger, 98, spoke while fielding nearly two hours of questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publisher and provider of software to courthouses that he chairs.

Buffett business partner Munger laments US-China tensions, calls crypto 'venereal disease' comes via ChinaTechNews.com.