Berkshire Hathaway deputy chairman and also Warren Buffett’s good friend Charlie Munger was apparently supportive and proud of the Chinese government’s move to ban cryptocurrency trading activities.
Not only that, Munger belittled the United States (US) and several other countries for failing to emulate China's actions:
“I believe China has made the best decision by blocking cryptocurrencies. On the other hand, my own country made a mistake in chess. ”
For the record, the Securities and Exchange Commission (SEC) has agreed not to block cryptocurrencies, handing the decision to Congress.
Munger also expects cryptocurrencies to never exist, indicating this individual is not interested in making the asset part of his investment portfolio.
Clearly, the issuance of a cryptocurrency is based on the personal interests of its issuer.
"I think this era is crazier than the dot com era."
Buffett, on the other hand, once issued a statement claiming that Bitcoin has zero value, unlike what is touted by the crypto community.
But he acknowledges the existence of the blockchain is very important.
