Joe Kernen, anchor of CNBC, recently pushed back against Charlie Munger’s anti-cryptocurrency tirade. Munger, the vice chairman of Berkshire Hathaway, had previously published an opinion piece in the Wall Street Journal arguing for a U.S. ban on cryptocurrency, likening it to “gambling contracts” and “crypto shit.” He also claimed that its existence was “undermining the national currencies of the world.” In response, Kernen said that Munger’s comments were a basic, “pedestrian” viewpoint on crypto that he’s heard from people completely ignorant on the subject for the past “20 years.”
Kernen’s response is in line with the arguments of Saifedean Ammous in his book The Bitcoin Standard. Ammous argues that money is something naturally emergent on the free market, rather than something that needs a national government to be its issuer. He further argues that Bitcoin will eventually emerge as the world’s currency of choice.
Munger’s comments have been met with criticism from many in the cryptocurrency space, who argue that his views are outdated and uninformed. They point to the fact that Bitcoin is now 14 years old, and that the technology has come a long way since then. They also point to the fact that cryptocurrency has been used for a variety of legitimate purposes, such as remittances and payments, and that it could potentially have a positive impact on the global economy.
Ultimately, it is clear that Munger’s views on cryptocurrency are outdated and uninformed. While it is understandable that he may be wary of new technologies, it is important to remember that cryptocurrency is here to stay and that it has the potential to revolutionize the global economy. It is therefore important to keep an open mind and to be willing to learn more about the technology and its potential applications.