Crypto 24X7 News Hubb
Advertisement
  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us
No Result
View All Result
  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us
No Result
View All Result
Crypto 24X7 News Hubb
No Result
View All Result
Home Crypto Currency

Charlie Munger Doesn’t Understand Bitcoin: Michael Saylor

admin by admin
February 4, 2023
in Crypto Currency



Warren Buffett’s right-hand man hasn’t taken the time to understand Bitcoin, MicroStrategy’s Michael Saylor said in an interview with CNBC.

Michael Saylor’s latest interview includes a blast at Western elites, specifically Charlie Munger.

Munger recently penned an op-ed for the Wall Street Journal titled, “Why America Should Ban Crypto.” In it, he slammed cryptocurrencies, explaining that:

“Such wretched excess has gone on because there is a gap in regulation. A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity. Obviously the U.S. should now enact a new federal law that prevents this from happening.”

This is not the first time that Munger has been openly negative towards bitcoin and cryptocurrencies, having previously called it “rat poison squared” and “a bad combo of fraud and delusion.”

In a Friday interview with CNBC’s Morgan Brennan, Saylor addressed Munger’s recent op-ed and the Western elite’s opinions on Bitcoin. “If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained. “The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that wasn’t enthusiastic about bitcoin.”

Saylor’s criticism of Munger came alongside further descriptions in regards to MicroStrategy’s plans to develop Lightning enterprise software, explaining for the first time in detail that “Microstrategy is actually developing MicroStrategy Lightning, our own enterprise Lightning offering. We’re going to allow CMOs to offer Lightning rewards or bitcoin rewards, like a frequent flier program, to hundreds of thousands or millions of their customers, all of their employees and all of their prospects, at the speed of light off a website — and we’re very enthusiastic about that.”

The MicroStrategy chairman is obviously still bullish on bitcoin’s growth irrespective of the opinion of legacy billionaires like Munger. In addition, his comments highlight his attention to the global nature of Bitcoin and its ability to enable those who are not yet financially connected as the West is.

Saylor has been persistent in his support for Bitcoin, and he believes that other regions around the world are more aware of the potential of the digital asset. With his commitment to developing Lightning enterprise software, Saylor is making clear his dedication to the adoption of bitcoin and to connecting the world in a new way.





Source link

Previous Post

Protocol Labs, Chainalysis and Bittrex add to crypto layoff season

Next Post

Binance Purchased a Stake in South Korean Crypto Firm GOPAX

Next Post

Binance Purchased a Stake in South Korean Crypto Firm GOPAX

Recommended

El Salvador’s Assembly Approves Bitcoin Bonds Bill – Bitcoin Magazine

January 12, 2023

FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation – Bitcoin News

March 4, 2023

Don't miss it

Crypto Mining

New Texas Resolution Aims to Protect Bitcoin Mining

March 22, 2023
Crypto Currency

Wasabi Wallet Releases Version 2.0.3, Adding Back Coin Control Amongst Other Updates

March 22, 2023
Ethereum

Bitcoin’s banking crisis surge will ‘attract more institutions’: ARK’s Cathie Wood

March 22, 2023
Crypto Currency

Core Scientific to Send $20M Worth of Mining Equipment to Settle Payment Dispute

March 22, 2023
Crypto Currency

‘Operation Choke Point 2.0’ may have contributed to SVB collapse: Mulvaney

March 22, 2023
Bitcoin

Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion – Finance Bitcoin News

March 22, 2023

© 2022 Crypto 24X7 News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us

© 2022 Crypto 24X7 News Hubb All rights reserved.