Warren Buffett’s right-hand man hasn’t taken the time to understand Bitcoin, MicroStrategy’s Michael Saylor said in an interview with CNBC.
Michael Saylor’s latest interview includes an attack on Western elites, specifically Charlie Munger.
Munger recently wrote an op-ed for the Wall Street Journal titled, “Why the United States should ban cryptocurrencies.” In it, she criticized cryptocurrencies, explaining that:
“Such miserable excess has continued because there is a regulatory gap. A cryptocurrency is not a currency, nor a commodity, nor a value. Instead, it is a gaming contract with a nearly 100% house edge, entered into in a country where gaming contracts are traditionally regulated only by laxly competing states. Obviously, the United States should now enact a new federal law that prevents this from happening.”
This is not the first time that Munger has been openly negative towards bitcoin and cryptocurrencies, having previously called it “rat poison squared” and “a bad combination of fraud and deceit.”
on a friday interview With CNBC’s Morgan Brennan, Saylor addressed Munger’s recent op-ed and the views of the Western elite on Bitcoin. “If he were a business leader in South America or Africa or Asia and spent 100 hours studying the problem, he would be more bullish on bitcoin than I am,” Saylor explained. “Western elites haven’t had time to study… but I’ve never met someone with an incentive who lives in the rest of the world who has spent time thinking about it and who isn’t enthusiastic about Bitcoin.”
Saylor’s criticism of Munger was accompanied by more descriptions regarding MicroStrategy’s plans to develop Lightning enterprise software, explaining for the first time in detail that “Microstrategy is developing MicroStrategy Lightning, our own Lightning enterprise offering. We will allow CMOs to offer Lightning or bitcoin rewards, like a frequent flyer program, to hundreds of thousands or millions of their customers, all of their employees and all of their prospects, at lightning speed from one website – and we’re very excited with that”.
MicroStrategy’s president obviously remains bullish on bitcoin’s growth, regardless of the opinion of legacy billionaires like Munger. Furthermore, his comments highlight his attention to the global nature of Bitcoin and his ability to help those who are not yet financially connected as the West is.
Saylor has been persistent in his support for Bitcoin and believes that other regions of the world are more aware of the digital asset’s potential. With his commitment to developing Lightning enterprise software, Saylor makes clear his dedication to bitcoin adoption and connecting the world in a new way.
