Berkshire Vice Chair Charlie Munger Compares Bitcoin to a ‘Stink Ball’ Among Traditional Currencies
Charlie Munger, the vice chairman of Berkshire Hathaway and Warren Buffet’s right-hand man, has expressed concern about the rising price of Bitcoin. He compared the cryptocurrency to a “stink ball” among traditional currencies, stating that creating an artificial currency disrupts a recipe that has worked well for many people for a long time.
Financial Giant Fidelity’s Director Sees Bitcoin as ‘Exponential Gold’
The director of global macro at financial services giant Fidelity, Jurrien Timmer, believes that Bitcoin is “exponential gold.” He explained that gold is too deflationary and clunky to be used as a medium of exchange, and investors primarily own it as a store of value. This is one of the reasons why Bitcoin is often compared to gold.
Dubai Financial Authority Approves XRP as ‘Recognized Crypto Token’
The Dubai Financial Services Authority has approved XRP as a recognized crypto token for use within the Dubai International Financial Centre (DIFC). Licensed virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services. Ripple also stated that institutions located in the zone can now utilize XRP “to accelerate faster, more efficient global value exchange.”
Robert Kiyosaki Breaks Down Rich Dad’s First Lesson — Says Bitcoin Provides ‘Lifelong Financial Security and Freedom’
Author Robert Kiyosaki has broken down Rich Dad’s lesson number one, explaining why the rich become richer. According to him, preserving tangible assets such as gold, silver, and bitcoin offers lifelong financial security and freedom.
Hot Take: The Varying Views on Bitcoin
Berkshire Hathaway’s Charlie Munger may view Bitcoin negatively, but Fidelity’s Jurrien Timmer sees it as “exponential gold.” Meanwhile, Dubai’s financial regulator has approved XRP as a recognized crypto token. These varying views highlight the ongoing debate surrounding digital currencies.
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