Warren Buffett’s right-hand man has not taken the time to understand Bitcoin, MicroStrategy’s Michael Saylor said in an interview with CNBC.
Michael Saylor’s latest interview includes a blast at Western elites, especially Charlie Munger.
Munger recently wrote an op-ed for the Wall Street Journal titled, “Why America Should Ban Crypto.” In it, he slammed cryptocurrencies, explaining that:
“This bad excess happens because there is a gap in the regulation. A cryptocurrency is not a currency, it is not a commodity, and it is not a security. Instead, it is a gambling contract with almost 100% edge for the house, entering a country where traditional gambling contracts are regulated only by the state who competes in laxity.Obviously the US now needs to make new federal laws that prevent this from happening.
This isn’t the first time Munger has been negative about bitcoin and cryptocurrencies, which he previously called “quadratic rat poison” and “an evil combo of fraud and delusion.”
On Friday interview with CNBC’s Morgan Brennan, Saylor ono Munger’s new op-ed and Western elite opinions on Bitcoin. “If he was a business leader in South America or Africa or Asia and he spent 100 hours studying the problem, he would have more confidence in bitcoin than I do,” Saylor said. “The Western elites don’t have time to learn … but I’ve never met an incentivized person living around the world who spends some time thinking about something that isn’t enthusiastic about bitcoin.”
Saylor’s criticism of Munger came alongside further details of MicroStrategy’s plans to develop Lightning enterprise software, detailing that “Microstrategy is actually developing MicroStrategy Lightning, our own company’s Lightning offering. We will allow CMOs to offer Lightning rewards or bitcoin rewards, like a frequent flier program, for hundreds of thousands or millions of customers, all employees and all prospects, with the speed of light from the website – and we are very happy about it.
The chairman of MicroStrategy is obviously still bullish on the growth of bitcoin regardless of the opinion of legacy billionaires like Munger. In addition, his comments highlighted the global nature of Bitcoin and its ability to enable people who are not yet financially connected like the West.
Saylor has consistently supported Bitcoin, and he believes that other parts of the world are more aware of the digital asset’s potential. With a commitment to developing Lightning enterprise software, Saylor explains his dedication to bitcoin adoption and connecting the world in new ways.