MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

Berkshire’s Munger Praises China’s Crypto Ban

December 3, 2021
in Regulations
Reading Time: 3 mins read
A A
Berkshire’s Munger Praises China’s Crypto Ban
ShareShareShareShareShare

Billionaire investor and Berkshire Hathaway vice chairman Charlie Munger on Friday (Dec. 3) said at the Sohn Hearts & Minds Investment Conference in Sydney that China “made the correct decision” to ban most cryptocurrency-related activity. 

“The Chinese made the correct decision, which is to just simply ban them,” said Munger, 97, according to a report in the Australian Financial Review. Earlier this year, China forced major Bitcoin mining operators to leave the country as part of a crackdown on the industry. 

China also banned crypto trading and other virtual currencies-related activities, moves that hurt Alibaba and Tencent, among other more traditional platforms, which saw their stock prices plummet in large part because of the China ban. 

Munger, though, said at the conference that China acted in “an adult fashion” with its ban and that he prefers to make money “by selling people things that are good for them, not things that are bad for them.” He said he wished cryptocurrency had never been invented and compared today’s investment environment to the dot-com boom of the 1990s. 

“I think the dot-com boom was crazier in terms of valuations than even what we have now,” he said. “But overall, I consider this era even crazier than the dot-com era.” 

Munger said earlier this year he hates Bitcoin, adding that the “whole damn development is disgusting and contrary to the interests of civilization.” 

Related: China’s Crypto Ban Shutters Ethereum Miner Sparkpool 

In September, China-based SparkPool, the second largest Ethereum mining pool in the world, ceased its operations because of the country’s “regulatory policy requirements.” 

The People’s Bank of China banned cryptocurrency because of concerns about national security and the need to guard investors against risk. The bank cited illicit activities connected to cryptocurrency — gambling, pyramid schemes, money laundering — specifically mentioning bitcoin, ether and tether.  

The ruling also forbids crypto services run by overseas exchanges to carry out digital transactions with people in China. 

——————————

NEW PYMNTS DATA: THE 2021 HOLIDAY SHOPPING OUTLOOK

About: It’s almost go time for the holiday shopping season, and nearly 90% of U.S. consumers plan to make at least some of their purchases online — 13% more than did in 2020. The 2021 Holiday Shopping Outlook, PYMNTS surveyed more than 3,600 consumers to learn what is driving online sales this holiday season and the impact of product availability and personalized rewards on merchant preference.

Credit: Source link

ShareSendTweetPinShare
Previous Post

Vietnam Police Expose Illegal Online Gambling Ring Worth $3.8 Billion

Next Post

Anthony Scaramucci explains why he’s heavily invested in crypto

Next Post
Anthony Scaramucci explains why he’s heavily invested in crypto

Anthony Scaramucci explains why he’s heavily invested in crypto

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

BAYC profits soar as NFT demand rises, but what has holders anxious

BAYC profits soar as NFT demand rises, but what has holders anxious

January 25, 2023
NFT Collection PolkaPets TCG Price, Stats, and Review

NFT Collection PolkaPets TCG Price, Stats, and Review

January 28, 2023
South Africa Mandates Risk Warnings in Crypto Ads

South Africa Mandates Risk Warnings in Crypto Ads

January 23, 2023
Pantera, Kraken, and Others Join Consortium for Injective Labs’ $150M Fund

Pantera, Kraken, and Others Join Consortium for Injective Labs’ $150M Fund

January 25, 2023
MagicSwap v2 is the first AMM in crypto backing NFTs &all ERC-20s via a single router

MagicSwap v2 is the first AMM in crypto backing NFTs &all ERC-20s via a single router

January 27, 2023
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • U.S. President Joe Biden’s administration released a statement on Jan 27
  • Will Jim Cramer’s Bitcoin Price Prediction Be Wrong Again?
  • Enjin Coin (ENJ) And Huobi Token (HT) Holders Begin Migration To Orbeon Protocol (ORBN)

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 23,410.00 1.96%
  • ethereumEthereum (ETH) $ 1,608.27 1.54%
  • tetherTether (USDT) $ 1.00 0.05%
  • usd-coinUSD Coin (USDC) $ 1.00 0.03%
  • bnbBNB (BNB) $ 316.89 3.34%
  • xrpXRP (XRP) $ 0.413446 0.39%
  • binance-usdBinance USD (BUSD) $ 1.00 0.02%
  • cardanoCardano (ADA) $ 0.390693 1.38%
  • dogecoinDogecoin (DOGE) $ 0.089796 0.81%
  • matic-networkPolygon (MATIC) $ 1.17 4.95%
  • okbOKB (OKB) $ 39.54 2.52%
  • solanaSolana (SOL) $ 24.29 0.34%
  • staked-etherLido Staked Ether (STETH) $ 1,605.46 1.49%
  • polkadotPolkadot (DOT) $ 6.58 1.8%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 1.55%
  • litecoinLitecoin (LTC) $ 94.88 7.76%
  • avalanche-2Avalanche (AVAX) $ 20.60 0.35%
  • tronTRON (TRX) $ 0.063633 1.38%
  • uniswapUniswap (UNI) $ 6.88 2.26%
  • daiDai (DAI) $ 0.999894 0.03%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,333.00 1.76%
  • cosmosCosmos Hub (ATOM) $ 13.52 1.6%
  • the-open-networkToncoin (TON) $ 2.49 1.64%
  • chainlinkChainlink (LINK) $ 7.36 1.37%
  • leo-tokenLEO Token (LEO) $ 3.66 1.84%
  • moneroMonero (XMR) $ 183.14 1.61%
  • ethereum-classicEthereum Classic (ETC) $ 22.29 2.45%
  • aptosAptos (APT) $ 18.03 4.86%
  • bitcoin-cashBitcoin Cash (BCH) $ 136.20 2.42%
  • stellarStellar (XLM) $ 0.093584 0.77%
  • apecoinApeCoin (APE) $ 6.10 2.06%
  • quant-networkQuant (QNT) $ 150.91 0.81%
  • nearNEAR Protocol (NEAR) $ 2.53 1.11%
  • crypto-com-chainCronos (CRO) $ 0.082012 0.94%
  • filecoinFilecoin (FIL) $ 5.36 1.04%
  • lido-daoLido DAO (LDO) $ 2.27 0.25%
  • algorandAlgorand (ALGO) $ 0.260745 2.23%
  • vechainVeChain (VET) $ 0.024643 2.17%
  • internet-computerInternet Computer (ICP) $ 6.09 3.87%
  • hedera-hashgraphHedera (HBAR) $ 0.068642 0.79%
  • decentralandDecentraland (MANA) $ 0.761696 9.59%
  • axie-infinityAxie Infinity (AXS) $ 11.74 1.66%
  • aaveAave (AAVE) $ 86.87 0.65%
  • the-sandboxThe Sandbox (SAND) $ 0.774997 5.39%
  • fantomFantom (FTM) $ 0.474354 3.29%
  • eosEOS (EOS) $ 1.10 0.8%
  • flowFlow (FLOW) $ 1.09 1.02%
  • elrond-erd-2MultiversX (EGLD) $ 44.96 1.44%
  • theta-tokenTheta Network (THETA) $ 1.10 1.86%
  • tezosTezos (XTZ) $ 1.16 4.85%