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Warren Buffett’s right-hand man hasn’t taken the time to understand Bitcoin, said MicroStrategy’s Michael Saylor in an interview with CNBC.
Michael Saylor’s most recent interview covers the explosion in the Western elite, particularly Charlie Munger.
Munger recently wrote an op-ed for the Wall Street Journal entitled, “Why America Should Ban Crypto.” In it, he slams cryptocurrency, explaining that:
“The unfortunate excess happened because there was a regulatory gap. Cryptocurrency is not a currency, not a commodity, and not a security. Rather, it is contract gambling with an almost 100% house edge, conducted in a country where contract gambling has traditionally been regulated only by competing states on weakness. Obviously the US should now enact new federal laws preventing this from happening.”
This is not the first time Munger has publicly been negative about bitcoin and cryptocurrencies, having previously called it “rat poison squared” and “an ugly combination of deception and delusion.”
On Friday interview with CNBC’s Morgan Brennan, Saylor discusses Munger’s recent op-ed and what Western elites think about Bitcoin. “If he was a business leader in South America or Africa or Asia and he spent 100 hours studying the problem, he would be more bullish on bitcoin than I am,” Saylor explained. “Western elites don’t have time to learn … but I’ve never really met someone with the incentive living around the world to spend time thinking about it who isn’t enthusiastic about bitcoin.”
Saylor’s criticism of Munger came alongside further descriptions of MicroStrategy’s plans to develop Lightning enterprise software, explaining for the first time in detail that “Microstrategy is actually developing MicroStrategy Lightning, our own enterprise Lightning offering. We will allow CMOs to offer Lightning rewards or bitcoin rewards, such as frequent flier programs, to their hundreds of thousands or millions of customers, all of their employees, and all of their prospects, at the speed of light from a website — and we are excited about it.”
The chairman of MicroStrategy is clearly still optimistic about bitcoin’s growth despite the opinions of longtime billionaires like Munger. Additionally, his comments highlight his concern for the global nature of Bitcoin and its ability to enable those who are not yet as financially connected as the West.
Saylor is staunch in his support of Bitcoin, and he believes that other regions around the world are more aware of the digital asset’s potential. With his commitment to developing Lightning enterprise software, Saylor makes clear his dedication to adopt bitcoin and to connect the world in new ways.
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