Charlie Munger claimed that people who are buying crypto are stupid.
Oh well... it depends...
Who is more stupid to buy stocks and hope the company can generate profits but who can manage their own money without worrying the money can take away from the government?
I think it is a choice to own crypto.
Whether the crypto will work or not, we do not know.
But to disregard the potential is not a great idea.
Simply making a statement to bring down crypto is not wise.
By the way, why Charlie comes in front of the mainstream media to promote China?
The Chinese economy is going down, and it will not end well with their balloon inflated economy.
Institutional investors promote it because they are nothing good, rather than keeping the last trend to continue until it is not working.
That is just another pump and dump in the financial market we will see soon.
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