Berkshire Hathaway Vice Chairman Charlie Munger recently called for a ban on cryptocurrencies in the United States, citing a lack of crypto regulation as fostering a “gambling mentality.” However, MicroStrategy’s Executive Chairman Michael Saylor pointed out that many prominent business leaders, including Munger, are frequently asked for their opinion on Bitcoin despite lacking understanding of the cryptocurrency.
Saylor’s Dig At Munger
In a television interview on CNBC, Saylor expressed empathy for Munger’s general objections to cryptocurrency and posited that Munger may not have had the opportunity to thoroughly research the subject. Saylor suggested that if Munger, who is 99 years old, were a business leader in South America, Africa, or Asia and spent 100 hours studying the topic, he would likely have a more favorable view of Bitcoin (BTC)
Saylor Acknowledges Similarity Between Cryptocurrencies and Gambling: ‘I do Agree with Part of Munger’s Comparison’
His criticisms of crypto aren’t completely off. There are 10,000 crypto tokens that are gambling, and I sympathize with him on that matter.
Despite Contrarily Held Views by Legacy Billionaires like Charlie Munger, the Chairman of MicroStrategy Remains Positive on Bitcoin’s Evolution. He Also Demonstrates Understanding of Bitcoin’s Global Nature and its Ability to Empower Individuals with Limited Financial Connectivity.
Unwavering Assist For Bitcoin
Saylor’s Support for Bitcoin Remains Unwavering, Believes People in Other Regions Possess Enhanced Awareness of its Potential. Showcased his Dedication to the Global Adoption of Bitcoin and Connecting the World through Involvement in Lightning Network Development.
Today’s interview with @MorganLBrennan covered the success of @MicroStrategy, global adoption of #Bitcoin and #Lightning⚡️, the evolution of the crypto industry, and the digital transformation of money. pic.twitter.com/bEnLOVbpiJ
— Michael Saylor⚡️ (@saylor) February 3, 2023
Saylor pointed out that the crypto industry must advance, given the involvement of major firms such as Goldman Sachs, Morgan Stanley, and Blackrock entering the crypto market. He also stressed the need for clear regulations from both Congress and the SEC.