Financier Charlie Munger recently stated that most digital currencies will collapse to zero. He also warned bitcoin holders that they could lose all funds invested in this digital asset at any moment.
Munger said in an interview with the Wall Street Journal this week that the cryptocurrency industry has the potential to disrupt the global financial system.
The most reliable instruments are still precious metals and bank deposits. Artificial currency has no real collateral, and investors risk losing all their investments, emphasized the financier.
In social networks criticized Manger’s speech. He was reminded that he, as a person born in 1924, is focused on the economy of the old formation.
The new millennium is shaping innovation systems with breakthrough technologies. People like Charlie Munger are no longer able to hold a leading position in the new global economy.