Berkshire Hathaway vice president, who is also a good friend of Warren Buffett, Charlie Munger claims the value of the fiat currency will turn zero in another 100 years.
This comment was shared via Yahoo! Finance before getting the attention of MicroStrategy CEO Michael Saylor on February 17th.
Through a tweet on Twitter, Saylor criticized the superficial comments from Munger:
“The safe perception from an investor is that the fiat currency will be zero. Munger is aware of this problem but is not aware that we have advanced to overcome the problem through the existence of Bitcoin. ”
There is also true to Munger's notion given that currently world inflation has risen to a 40 -year high with a record 7.5%, in line with the rising cost of living.
It’s not impossible if the value of $ 1 as you read this article is worth less than last year, the year before, and so on.
But based on Saylor’s statement, Munger turned out to be wrong in criticizing cryptocurrencies because the solution to this inflation problem is Bitcoin and other cryptocurrency assets.
And if Munger considers cryptocurrencies to open the door to criminal activity: money laundering, hacking, kidnapping, and extortion; did he not forget that fiat currency is also famous enough to be the subject of a legal offense?
Most recently, Berkshire Hathaway bought $ 1 billion worth of NuBank shares. Through the latest move from the company, there are signals that maybe Buffett is already getting used to crypto.
After all, Buffett and Munger were previously known as individuals who opposed the presence of cryptocurrencies and once called these assets ‘rat poison’.
