vice president of Omaha-based multinational holding company Berkshire Hathaway Charlie Munger, In a recent article published by the Wall Street Journal, the US has a federal grant to Bitcoin. forbidden argues that it should.
Warren Buffett’s Right Hand Calls for Bitcoin Banning
Munger, a cryptocurrency believes its unit is merely a “gambling contract”, refuses to recognize digital assets as securities or commodities, and complains of a lack of investor protection.
Warren Buffett’s right-hand man suggests that the United States should follow China’s path by banning cryptocurrencies.
Munger also cites Britain’s response to an economic depression in the early 1700s as another precedent for a general ban on digital assets.
The British Parliament has banned all public trading in new stocks in response to an investment plan that has led to the economic depression.
Prohibition remained in effect for nearly 100 years, and Munger argues that during this time Britain made the greatest national contribution to the enlightenment and industrial revolution, as well as spawning the United States.
Munger concluded his post by urging the United States to follow the “great common sense example” of the Chinese communist leader and ban cryptocurrencies to prevent further harm to the public.
Munger has been one of Bitcoin’s harshest critics. Last year, he predicted that the flagship cryptocurrency would likely go to zero.
The leading investor has also compared crypto to “some venereal disease” and a lice in the past.
*Not investment advice.
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