Warren Buffet’s right-hand male Charlie Munger has again let his contempt for cryptocurrencies be understood. Speaking in a Wall Street Journal op-ed today, the 99-year-old contacted the United States authorities to prohibit cryptocurrencies, liking them to betting agreements. He thinks that cryptocurrencies are a rip-off that targets routine financiers. In the op-ed, Munger mentioned his belief that a cryptocurrency is not a security, a product, or a currency. He discussed: “Instead, it’s a gaming agreement with an almost 100% edge for your home, participated in a nation where betting agreements are generally controlled just by states that contend in laxity.”
contacted Congress to copy China’s technique
The Berkshire Hathaway vice chairman gotten in touch with Congress to copy China’s method. Individuals’s Republic of China prohibited cryptocurrency mining and trading in 2021 since of issues over possible threats. In spite of the 99-year-old’s demand, it does not look most likely that the United States federal government will take such extreme steps.
Munger has actually not kept back his strong views on crypto recently. He has actually compared the crypto sector to an “open drain” and specified that he thinks anybody selling crypto is “either delusional or wicked.”
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