Billionaire investor Charlie Munger praises China crypto ban

Charlie Munger shared his stance on the Chinese authorities to ban crypto assets. He also expressed his own opinion on Bitcoin as disgusting in the past years. 

In the present time, there are many crypto billionaires and also non-crypto billionaires, who grabbed huge profits through hard work of perfect analysis and the decision to invest in the best assets( crypto or non-crypto). It has been seen so far many times that most of the non-crypto billionaires criticized the crypto industry as an illusion to get rich in a short time. 

In the latest, Charlie Munger- a billionaire and investor, appeared at the live Sohn Conference in Sydney on Friday. He showed that he agrees with the policies of China to ban crypto. 

 “I admire the Chinese, I think they made the correct decision, which was to simply ban them.”

Earlier, in May of this year, Charlie described his point of view on Bitcoin and the crypto industry as disgusting. He said that Bitcoin and “the whole damn development is disgusting and contrary to the interests of civilization.”

This billionaire investor is known to share his point of view publicly. For example, during a Daily Journal shareholder meeting, he said that Bitcoin is only a sort of substitute for gold.

Also in May, speaking during Berkshire’s annual shareholder meeting, Charlie said that gain in the price of Bitcoin is hate from them. With this statement, Charlie tried to hurt all those Bitcoin lovers and said:

“I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth.”

In the last year, Charlie commented that Crypto assets are highly volatile and also are handy tools for criminals. However, he didn’t yet share his point of view on the crypto underlying technology, blockchain. 

Here as a crypto and Bitcoin lover, we can say that non-crypto Investors need to understand blockchain technology instead of crypto assets, probably these things can change the mentality of such high-level rich people. 

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