2023-02-24
Charlie Munger has written an article on the Wall Street Journal topic, “Why America should ban crypto”. He is saying that crypto isn’t a currency. It’s a gambling contract with a nearly 100% edge for the house. The US government should implement a new federal law to ban crypto.
Michael Saylor, the Executive Chairman
of MicroStrategy, gave an interview to CNBC. He replied that “There are 10,000
crypto which are gambling and I sympathize with the matter. But Charlie and the
other critics, they’re members of the Western elites. They haven’t had the time
to study Bitcoin. If he is a business leader in South America or Africa or
Asia. He spends a hundred hours study on the problem. He would be more bullish
on Bitcoin that I am.”
Michael Saylor is saying that many
developing countries like Argentina, Venezuela, and Sri Lanka are suffering
from high inflation. And Western elites like Charlie Munger doesn’t take time
to study the idea of Bitcoin.
