Michael Saylor Asks Charlie Munger About Bitcoin Expertise
This week, Bitcoin critic Charlie Munger called for the US government to ban cryptocurrencies.
Saylor told CNBC that he is "sympathetic" to Munger's views of cryptocurrencies and that Munger probably didn't have time to investigate.
Charlie Munger, a longtime opponent of Bitcoin, demanded this week that the US government outlaw cryptocurrencies.
Charlie Munger, vice chairman of Berkshire Hathaway, called on the American government to outlaw cryptocurrencies in the same way that China had earlier this week, arguing that the absence of crypto regulation encouraged a gambling mindset. Michael Saylor, the Executive Chairman of MicroStrategy, said that despite the fact that Charlie and other well-known business figures have little to no knowledge of the leading cryptocurrency, they are frequently asked for their opinions on it.
A Dig At Munger From Saylor
Saylor claimed in a CNBC interview that he is "sympathetic" to Munger's general criticisms of cryptocurrencies and contended that Munger probably did not have the time to do his own investigation. Saylor observed that the 99-year-old Munger would be more enthusiastic about Bitcoin (BTC) than he was if he had spent 100 hours studying the topic as a company executive in South America, Africa, or Asia.
Saylor did, however, somewhat concur with Munger's analogy of cryptocurrency to gambling. He was cited as noting that some of his objections of cryptocurrency were valid. In terms of the 10,000 crypto tokens that are considered to be gambling, I can understand him.
The chairman of MicroStrategy is undoubtedly still bullish about the future of bitcoin, despite what established billionaires like Munger may say. Additionally, his comments demonstrate that he is cognizant of Bitcoin's worldwide reach and its potential to empower those who do not yet enjoy the same level of financial connectivity as those in the West.
Consistent Backing of Bitcoin
Saylor has consistently backed Bitcoin and believes that people in other parts of the world are more aware of the potential uses for the virtual currency. With his choice to work on the creation of the Lightning Network software, Saylor made it abundantly obvious that he is dedicated to the broad use of Bitcoin and to connecting the world in a novel way.
Saylor also underlined the necessity for the cryptocurrency industry to develop and the entry of firms like Goldman Sachs, Morgan Stanley, and Blackrock. He added that it needs clear regulations from Congress and the Securities and Exchange Commission (SEC).
