David Moore 
Charlie Munger, a billionaire and partner of Warren Buffet’s, ardently called for the prohibition of cryptocurrencies. Robert Kiyosaki, widely known as the author of “Rich Dad Poor Dad,” had an immediate response to this declaration. According to him, the younger generation prefers investing in Bitcoin over stocks due to their faith in it.
Charlie Munger Is A Big Adversary for Cryptocurrencies
While Robert Kiyosaki may not have the same level of wealth as Charlie Munger, he is still widely heard. At the ripe age of 99, this seasoned investor has acquired quite an audience; in fact, he even serves as vice president for Berkshire Hathaway—the business owned by Warren Buffet. His publications that are against cryptocurrencies came with backlash from crypto sphere supporters. A week ago, Finbold reported on Munger’s opinion, where he argued to get rid of cryptocurrency rather than establish regulations around them due to their lack of governing system.
According to Kiyosaki, Munger’s judgmental words are most likely caused by his proximity to the Securities and Exchange Commission (SEC). This regulator has promised to end any cryptocurrency activity, so instead of worrying about its price movements, we should consider the technology it is founded upon.
Robert Kiyosaki Thinks Charlie Munger’s Relation with Fed Is Why He Thinks Like This
After the esteemed Charlie Munger called for a ban on cryptocurrencies, it took an individual with comparable stature to respond. According to Robert Kiyosaki, “Charlie would most likely still suggest investing in stocks; however, I favor crypto over bitcoin due to blockchain technology. Blockchain is more legitimate than traditional banking systems like The Federal Reserve or Wall Street, making it easier and faster for millennials and younger generations who are used to using their iPhones rather than relying on antiquated financial institutions”.
Cryptocurrencies have been facing a rough patch lately, particularly in the United States – with the SEC’s recent actions against Binance USD (BUSD) being only one example. The USDC could be its next target unless a major organization steps forward to advocate for digital currencies. But who will lead this charge? Only time will tell as we await an answer to this crucial question.
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