Billionaire Michael Saylor recently reacted to billionaire Charlie Munger’s criticism of Bitcoin, and in his typically candid manner, he articulated his thoughts on the matter with aplomb.
He used factual examples to illustrate why he believes that crypto assets are an important part of any well-diversified portfolio. In an interaction with the press, MicroStrategy CEO Michael Saylor voiced his “sympathy” for Warren Buffett’s right-hand man Charlie Munger’s views on the Bitcoin market.
While acknowledging that many altcoins are nothing more than means of “risk”, Saylor suggested that if only Munger delved deeper into Bitcoin he would have come to realise its potential and how it can be beneficial to investors.
With experienced and eloquent language, Saylor brought up poignant examples which made his point undeniably clear; proving once again why he is one of the most revered experts in this field. Saylor further added if a business leader invested 100. hours into researching Bitcoin, their outlook on its potential would be far more positive than him.
This was surely music to the ears of many who are keen to invest but uncertain about what lies ahead – a sentiment no doubt shared by Saylor himself.
What is the statement that sparks the debate?
Drawing upon his personal experience and expertise, Munger delivered a powerful statement regarding cryptocurrency- that they are, in essence, gambling contracts-one which provides close to 100% advantage to the ‘house’ and falls under loose regulations set by states. Munger shows no hesitation or fears while delivering his opinion.