MicroStrategy’s Executive Chairman, Michael Saylor, recently spoke about Charlie Munger’s negative views on cryptocurrencies. Munger, who is the Vice Chairman of Berkshire Hathaway, called for a ban on cryptocurrencies in the US, claiming that a lack of regulation leads to a gambling mentality.
Saylor’s View on Munger’s Criticism
In a CNBC interview, Saylor expressed sympathy for Munger’s objections to crypto, but argued that the 99-year-old may not have done enough research on the subject. Saylor stated that if Munger spent 100 hours studying cryptocurrencies, particularly in countries like South America, Africa, and Asia, he might have a more positive view of Bitcoin.
Saylor partially agreed with Munger’s comparison of crypto to gambling, acknowledging that there are 10,000 tokens in the crypto market that could be considered as such. However, he remains optimistic about the development of Bitcoin.
Committed to Bitcoin
Despite criticism from legacy billionaires like Munger, Saylor is unwavering in his support for Bitcoin. He believes that people in other parts of the world are more aware of its potential applications and that the cryptocurrency sector needs to mature with the entry of big companies like Goldman Sachs, Morgan Stanley, and Blackrock. Saylor also emphasized the need for clear rules from the SEC and Congress to further develop the crypto market.
The Chairman of MicroStrategy is also committed to connecting the world through the use of Bitcoin. He is working on the development of the Lightning Network software, which aims to improve the widespread use of Bitcoin.
Saylor’s statements highlight his awareness of the global nature of Bitcoin and its potential to empower people in countries with limited financial connectivity. Despite criticism from Munger and other prominent business leaders, Saylor remains optimistic about the future of Bitcoin and is committed to its development and widespread use.
