Warren Buffett’s right-hand man didn’t take the time to figure out Bitcoin, MicroStrategy’s Michael Saylor said in an interview with CNBC.
Michael Saylor’s latest interview includes a blast from Western elites, particularly Charlie Munger.
Munger recently wrote an op-ed for The Wall Street Journal titled “Why America Should Ban Crypto.” In it, he criticized cryptocurrencies, explaining that:
“These dismal excesses have continued because there is a regulatory vacuum. A cryptocurrency is not a currency, nor a commodity, nor a security. Instead, it is a contract game with a nearly 100% house advantage, concluded in a country where gambling contracts have traditionally been regulated only by states that compete with laxity Clearly, the United States should now enact a new law federal government preventing this from happening.
This isn’t the first time Munger has been openly negative towards bitcoin and cryptocurrencies, having previously called it “rat poison squared” And “a bad combo of fraud and illusion.”
In a Friday interview With CNBC’s Morgan Brennan, Saylor addressed Munger’s recent op-ed and Western elite views on Bitcoin. “If he was a business leader in South America or Africa or Asia and he spent 100 hours researching the issue, he would be more bullish on bitcoin than I am,” Saylor explained. “Western elites haven’t had time to study…but I’ve never really met someone with motivation living in the rest of the world who spent time thinking about it and wasn’t enthused by bitcoin.”
Saylor’s criticism of Munger was accompanied by additional descriptions regarding MicroStrategy’s plans to develop the Lightning enterprise software, explaining for the first time in detail that “Microstrategy is currently developing MicroStrategy Lightning, our own Lightning offering of business. We’re going to enable CMOs to deliver lightning rewards or bitcoin rewards, like a loyalty program, to hundreds of thousands or millions of their customers, all of their employees, and all of their prospects, at the speed of light from a website – and we’re very excited about it.
The MicroStrategy president is obviously still optimistic about bitcoin’s growth, regardless of the opinion of legacy billionaires like Munger. Additionally, his comments underscore his attention to the global nature of Bitcoin and its ability to empower those who are not yet financially connected like the West is.
Saylor has persisted in his support for Bitcoin, and he believes other parts of the world are more aware of the digital asset’s potential. With his commitment to developing the Lightning enterprise software, Saylor clearly expresses his dedication to embracing bitcoin and connecting the world in a new way.