Charlie Munger called on the US authorities to destroy bitcoin

Berkshire Hathaway Vice President Charlie Munger believes that it is necessary to destroy bitcoin, in which the billionaire compares investments to gambling.

In an interview with the Wall Street Journal, he said that the cryptocurrency industry is undermining the stability of the global financial sector. BTC cannot be considered as an asset class as it has no value.

The billionaire has been expressing this point of view over the past few years. For example, last fall, he emphasized that criminal communities and various swindlers use cryptocurrency.

Now he is calling on the US authorities to deal a devastating blow to the cryptocurrency market. It is necessary to introduce it into such a regulatory framework that will be as tough as possible, and the industry simply cannot withstand the pressure.

The absence of a ban on the purchase and sale of BTC poses a great threat to both retail investors and the American financial sector as a whole. Cryptocurrencies exist like gambling and should be eliminated, Munger noted.

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