Charlie Munger, billionaire, partner and longtime friend of Warren Buffet, called for a ban on cryptocurrencies. Right away, Robert Kiyosaki, author of the bestseller “Rich Dad Poor Dad” answered him. For the latter, the new generation believes more in Bitcoin than in stocks.
Death to cryptocurrencies: the fight of the titans?
Robert Kiyosaki may not be as rich as Charlie Munger, but he is very listened to. At 99 years old, Munger is a very popular expert investor. He is also vice-president of Berkshire Hathaway, the company of the famous Warren Buffet. Through his various anti-crypto publications, Munger has alienated part of the crypto sphere. As we learned finbold, About a week ago, he criticized that there is no regulatory system in the crypto industry. He suggests not trying to regulate cryptocurrencies, but rather banning them altogether.
Kiyosaki, for his part, believes that Munger’s statements are due to his proximity to the Securities and Exchange Commission (SEC). This institution, which plays the role of stock market policeman, has sworn to put an end to all cryptocurrencies. The author believes that the focus should not be on the price movement of cryptocurrencies, but rather on the underlying technology.
Robert Kiyosaki’s response to Charlie Munger about the crypto ban
When a man with as much influence as Charlie Munger calls for a ban on cryptocurrencies, it takes an actor of equal influence to respond.
” Charlie would probably still say buy stocks, but the reason I like crypto, not bitcoin, is because of blockchain, and blockchain is an accounting system. It’s more legit than the Fed or the Treasury or Wall Street, so Charlie Munger is in the Fed Treasury crowd on Wall Street, and the younger generations, millennials and below, are in the crowd of the iPhone said Kiyosaki.
Cryptocurrencies are going through tough times, especially in the United States. Lately, the SEC brought Binance USD (BUSD) to its knees. The USDC could be its next victim, unless a heavyweight comes to campaign for cryptocurrencies. But which institution could definitely save crypto from the SEC?
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