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Right-hand man Warren Buffett hails China’s crypto ban and considers crypto crazier than the dot-com era

Right-hand man Warren Buffett hails China’s crypto ban and considers crypto crazier than the dot-com era

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Answer Right-hand man Warren Buffett hails China’s crypto ban and considers crypto crazier than the dot-com era

Charlie Munger, an American billionaire investor and vice chairman of Berkshire Hathaway, gave his opinion on cryptocurrencies, which is not a good view of the crypto community.

Today, at the Sohn Hearts and Minds Conference, Munger expressed his extreme anti-crypto views, saying:

He wishes cryptocurrency had never been invented.

He told decentralization that decentralization is crazier than the dotcom era, and swore he wouldn’t take part in the “crazy” crypto boom, and added:

I think the internet boom was even crazier in terms of ratings than we have now.

But in general, I consider this era crazier than the dotcom era..I would never buy cryptocurrency.

Read:The Spanish regulatory body warns against the cryptocurrency exchanges “Huobi” and “Bybit” for these reasons!

Monger supports China’s ban on cryptocurrency:

Munger believes that China was smart to ban cryptocurrencies. In addition, Munger believes that the United States made a big mistake by not doing the same.

He noted that the Chinese government has played its part cleverly by cutting back on some of the exuberance that comes with capitalism.

Besides praising China’s move to combat crypto, Munger also claimed that decentralized businesses are largely focused on producers. Additionally, while referring to cryptocurrencies, Munger stated that he wants to make his money by selling people the good stuff, not the bad stuff for them.

He went on to say:

I think the Chinese made the right decision, which is simply to ban cryptocurrencies.

My country made a wrong decision…I want to make my money by selling them good things, not bad things…believe me, people who make cryptocurrencies don’t think about the customer, they only think of themselves.

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