Billion Charlie Munger Compares Bitcoin Investors to Judas Iscariot & # 39;
In a bizarre adventure, the Charlie Munger of Wall Street's most recognizable characters and long-term partner of Warren Buffett-compares cryptography investors to the biblical figure of Judas Iscariot.
Billion investor and vice president of Berkshire Hathaway continued his criticism of Bitcoin, which has existed for several years. Munger's comments follow on the heels of recent comments by partner Warren Buffett, who last week called Bitcoin a "gambling device." Buffett, worth over $ 90 billion, regretted the state of Bitcoin and cryptocurrency investing as a stage for scammers and charlatans, despite the growing valuations of digital assets.
Instead, Buffett used the opportunity to renew his attack on the leading crypto competition in market capitalization, claiming that Bitcoin was responsible for a number of scams and disappearing "Related to the digital asset. Munger echoes the comments of his reputable investment partner, as reported by news market Markets Insider in a post on May 4.
The comments were made in relation to Munger being invited to a cryptocurrency event by a non- named digital real estate group, despite reducing the invitation, Munger managed to sneak into his view of Bitcoin and cryptocurrency, which was more negative pressure for the industry in a comment by Warren Buffett.
Munger's latest comments are not the first distraction One billion years ago, Munger claimed that cryptocurrency trading was similar to "just dementia", continues to say
"And I believe or that people who are professional traders who enter into trade cryptographic baskets are just disgusting. It's like someone else is dealing with turds, and you decide I can't be left out. ยป
While Munger and partner Warren Buffett found significant features in Bitcoin's criticism throughout 2018, when the asset class fell over 80 percent and cryptographic markets entered what many analysts called a" crypto winter ", the latest rally in digital assets has done the comments fall on deaf ears.
Sentiment against both cryptocurrency and Bitcoin took a 180-degree turn in the last month, with Bitcoin approaching the market for $ 6,000 for the first time in the last six months, since November 2018. While the markets failed at the beginning of last week, then The news broke that the law firm in New York accused Bitfinex of deceiving investors and manipulating the market for crypto competition, the price of Bitcoin has since recovered. BTC market dominance has approached a relatively high of 56 percent, up nearly 12 percent since the beginning of the month.
SFOX, a cryptocurrency analytics firm, has published a "mildly bullish" view for Bitcoin into the fifth month of the year, continuing with four-month growth to begin in 2019. However, other analysts have pointed to the $ 6,000 value of cryptography as a potential barrier to the digital asset, claiming that private investors who lost substantial money last year will look to recover losses.
While BTC is up nearly 100 percent since the beginning of 2019, Bitcoin suffered a sudden fall in price from around $ 6,000 to $ 3,000 in November 2018. The steep and sudden fall to Bitcoin has some analysts wondered how steep the price resistance will be Be as BTC approaches its $ 6k marker.
