Thursday, January 20, 2022
Home Crypto News Market Economist And Vice-Chairman of Warren Buffett’s 'Berkshire Hathaway', Charlie Munger Said China...

Economist And Vice-Chairman of Warren Buffett’s ‘Berkshire Hathaway’, Charlie Munger Said China Is Rightly Banning Digital Assets

- Advertisement -

Charlie Munger, economist, and vice-chairman of Warren Buffett’s ‘Berkshire Hathaway’ spoke against cryptocurrencies and said China is correctly banning digital assets.

At the Sohn Hearts and Minds conference, which is now taking place in Australia, Munger said while addressing Australian investors that there is some kind of madness in the investment market right now.

Mr. Munger, Mr. Buffet’s right-hand man, said the investment environment was “a little more extreme” than what he had seen in his decades of experience, and he backed China’s attempts to clamp down on “some of the exuberances” of capitalism.

“I think the dot com boom was crazier in terms of valuations than even what we have now. But overall, I consider this era even crazier than the dot-com era.”

He especially disliked the fame of cryptocurrencies:

“I will never buy cryptocurrencies and I prefer they were never invented. I think China made the right decision by simply banning them. My country is on a different, wrong path. I want to make money by selling good things to people. Believe me, the people who created cryptocurrencies did not think about users, but only about themselves and their welfare. “

Berkshire Hathaway owners Warren Buffett and Charlie Munger are frequent critics of cryptocurrencies. In February, Munger said that Bitcoin is not suitable for payments, since it is too volatile as an asset.

- Advertisement -
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Central Bank Of Russia Proposes A Ban On Cryptocurrency Use And Mining

The Central Bank of Russia (CBR) issued a consultation paper on Thursday entitled 'Cryptocurrencies: Trends, Risks, and Regulation', whose primary focus is to influence...

Fox Business Journalist Says SEC legal Team Declared Ripple (XRP) Non-Security In 2018 So What Changed In 2 years?

Eleanor Terrett, a Fox Business journalist, recently questioned the ongoing lawsuit between the SEC and Ripple. window.coinzilla_display...

Michael Saylor Reaffirmed After BTC Drop From $69K to $40K That Neither He Nor His Company Will Sell A Single Satoshi

Michael Saylor, again affirmed that neither he nor his company is going to sell their bitcoin holdings. ...

After Sundaeswap, Another Decentralized Exchange Is Launching On Cardano

After Sundaeswap, another decentralized exchange (DEX) based on Cardano, Minswap has announced January 25, 2022, as its public beta launch date.

Shiba Inu Leading Developer Share His Thoughts On Microsoft-Activision Acquisition, Can Shib Get Something From This Deal?

Shiba Inu cryptocurrency holders woke up and smelled roses, and it's all thanks to Microsoft as the company prepares its new acquisition of Activision.

Shiba Inu Takes 3rd Spot Beating Ethereum In Top 10 Most Viewed Coins In Europe

Coin market cap (CMC) has just released its “Top 10 Most Viewed Crypto Coins” list for Europe. The list is released by CMC based...

Another Memecoin Trending On Twitter With 690T Supply

Twitter has become one of the main discussion points about cryptocurrencies. Recently, a cryptocurrency has been trending, looking like a bizarre project, the Shibnobi...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.