Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s right-hand man, reiterated his stance against Bitcoin and the entire crypto industry.
These digital assets have become publicly traded without governmental pre-approval of disclosures and pose a risk to the country’s economic health. The Berkshire vice-chairman insisted that the U.S. enact a new federal law to ban cryptocurrencies and prevent such incidents from continuing., Munger cited two precedents. The first was the case where China’s communist government recently banned cryptocurrencies. He called it a wise decision as they knew that such currencies would cause more harm than good.an incident in England in the early 1700s where the country banned all public trading in new common stocks.
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