Billionaire Investor Charlie Munger Praises China’s Crypto Ban
The billionaire investor, who has never been a fan of Bitcoin, and has provoked a dismal response on social media with his latest criticism of crypto.
Nowadays, there are crypto billionaires and non-crypto billionaires who make huge profits by accurate analysis and decision to invest in better assets (crypto or non-crypto). Although criticisms of the crypto industry have appeared many times, with the illusion that the vast majority of non-crypto billionaires think they will become rich in no time.
Recently, billionaire and investor Charlie Manger appeared at a live meeting in Sydney on Friday. He showed that he agrees with China’s policy of banning crypto.
“I applaud the Chinese. I think they made the right decision. Banning them.”
Back in May this year, Charlie outlined his outlook on bitcoin and the crypto industry. He also said Bitcoin and that “overall development is disgusting and against the interests of civilization”.
This billionaire investor spoke publicly. For example, at a Daily Journal shareholder’s meeting, he said bitcoin was an alternative to gold.
Speaking at Berkshire’s annual shareholders’ meeting in May, Charlie said he was disgusted with the gains in bitcoin prices. With this statement, Charlie surely intended to hurt all bitcoin lovers while he said:
I do not welcome a currency that is useful for kidnappers and thieves.
Charlie commented last year that crypto assets are very volatile and that it acts as a useful tool for criminals. However, he has not yet shared his thoughts on blockchain, a crypto-based technology.