Jim Cramer: Charlie Munger Underestimated BTC
Charlie Munger, a well-known financier who died at the age of 99, firmly believed that Bitcoin was a threat to the global payment system.
He frequently expressed his belief that BTC and other digital currencies would eventually become worthless and be relegated to the pages of history.
However, CNBC host Jim Cramer disagreed with Munger’s viewpoint, stating that the market is eagerly anticipating the introduction of cryptocurrency ETFs in the United States.
If the US Securities and Exchange Commission (SEC) legalizes these funds, traders are likely to resume selling BTC in the near future.
Nevertheless, Cramer emphasized that it is impossible to destroy the digital currency market, as it is a technical marvel that people recognize as a permanent fixture.
He stated:
“The late Charlie Munger failed to grasp this. Bitcoin is a technological wonder, and people know that it is here to stay.”
