Charlie Munger wants crypto banned in the U.S.

Bitcoin critic Charlie Munger has asked the United States to follow China’s steps and ban cryptocurrencies.

The vice chairman of Berkshire Hathaway vice chairman wrote in an opinion piece in the Wall Street Journal that crypto assets aren’t currencies, commodities, or securities.

Munger called crypto assets gambling contracts "with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity."

Munger wants the U.S. to "enact a new federal law that prevents this from happening."

Munger has gone hard on Bitcoin in the past, calling it disgusting in 2021 and a tool for kidnappers and extortionists.

In 2022, the 99-year-old called bitcoin an "investment in nothing."

Leave a Reply

Your email address will not be published.