Crypto Critic Charlie Munger Receives Backlash From Community
Even though Cryptocurrencies have received widespread adoption globally, there is a group of critics who don’t favor digital assets. Warren Buffet is one such critic who has publicly expressed his opposition to Cryptocurrencies . Buffet’s right-hand man, Charlie Munger , recently shared his opinion to the Wall Street Journal, where he shared his opinion on banning Cryptocurrencies in the US. Munger is a 99-year-old American billionaire and vice chairman of Berkshire Hathaway. His opinion on banning Cryptocurrencies in the US just like in China has made the community express their disagreement with Munger. Source: MoneyControl Charlie Munger said the US should ban cryptocurrencies Munger stated that Cryptocurrencies are not currencies, commodities, or securities. “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...