On this topic, Michael Saylor, executive chairman of MicroStrategy, said that Charlie Munger and other top business leaders are constantly being asked for their opinions on bitcoin (BTC), even though they have no knowledge of the flagship crypto-currency.
Michael Saylor takes on Charlie Munger
In a television interview on CNBC, Michael Saylor said he was “…a man who has a lot of experience in the field.understanding“to Charlie Munger’s general objections to crypto-currency, and argued that Charlie Munger probably didn’t have time to research it. Michael Saylor pointed out that if Munger, 99, were a business leader from South America, Africa or Asia and spent 100 hours studying the subject, he would certainly be more positive about bitcoin (BTC) than he was.
Today’s interview with @MorganLBrennan covered the success of @MicroStrategyglobal adoption of #Bitcoin and #Lightning⚡️, the evolution of the crypto industry, and the digital transformation of money. pic.twitter.com/bEnLOVbpiJ
— Michael Saylor⚡️ (@saylor) February 3, 2023
However, Michael Saylor agreed in part with Charlie Munger’s comparison of cryptocurrencies to gambling. He was quoted as saying:
His criticisms of crypto-currencies are not totally wrong. There are 10,000 crypto-currencies that are gambling, and I sympathize with him on that.
Despite what billionaires like Charlie Munger may think, the president of MicroStrategy remains optimistic about the development of bitcoin. Moreover, his statements highlight the fact that he is aware of the global nature of bitcoin and its ability to empower people who do not yet have the same level of financial connectivity as Westerners.
Unwavering Support for Bitcoin
Michael Saylor has been an unwavering supporter of Bitcoin, and he believes that people in other parts of the world are more aware of the potential applications of the digital commodity. In deciding to work on the development of the Lightning Network software, Saylor made it clear that he was committed to making Bitcoin widely used and connecting the world in a new way.
In addition, Michael Saylor pointed out that the crypto-currency industry was set to mature, with companies such as Goldman Sachs, Morgan Stanley and Blackrock entering the crypto-currency market. In addition, he noted that unambiguous rules are needed from Congress and the Securities and Exchange Commission (SEC).