Billionaire Investor Told Cryptocurrencies Deserve Of Extreme Hatred, Should Have Been Banned Already

Billionaire Investor Told Cryptocurrencies Deserve Of Extreme Hatred, Should Have Been Banned Already

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new Delhi. Charlie Munger, business partner of veteran investor Warren Buffet and Berkshire Hathaway’s vice chairman, has called for a ban on cryptocurrency, calling it “Beneath Contempt”. . He compared it to a serious illness. Mangar praised China’s ban on cryptocurrency and said that China has taken the right step. On the other hand, America has made a mistake by admitting it.

This is not the first time that this veteran investor has criticized the cryptocurrency. This billionaire investor was asked about crypto at the general meeting of Los Angeles newspaper Daily Journal Corp. Mangar replied, “I have not invested in cryptocurrency. And I am proud that I have neglected crypto. It is like a serious disease. I consider this to be worthy of great hatred (Beneath Contempt). Some people are considering it as modernity and they are welcoming a currency which is helpful in ransom and kidnapping and will also be in tax evasion in future.

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Previously compared to gambling

In the past, Charlie Manger has compared cryptocurrency to gambling. Now once again he said that the cryptocurrency is run by a handful of people who want to get rich as soon as possible. Mangar said that – “If I were the dictator of the world, I would have made it impractical to make short term profits in securities. It does this because we currently combine legitimate capital raising activities with gambling casinos where people come and gamble. The combination of these two (Stock Market) and Bitcoin has created an impractical mix which is very dangerous for the Republic (USA).” Manger believes that bitcoin is an asset that has no value. Only betting can be done in this.

Also read: Cryptocurrency prices today: Slight decline in crypto market, but one coin jumped more than 3000%

Not in favor of digital currency either

Manger is also not in favor of the Federal Reserve bringing digital currency. They do not consider it useful. He said that we already have digital currency, which is called bank account. Banks are linked to the system of the Federal Reserve. So what is the need of digital currency.

Tags: Cryptocurrency, Investment tips

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