Berkshire Hathaway billionaire Charlie Munger may think Bitcoin is a “stink ball,” but director of global macro at financial giant Fidelity, Jurrien Timmer, says the asset is “exponential gold.” Find out why, just below, in the latest Bitcoin.com News Week in Review.
Berkshire Vice Chair Charlie Munger Compares Bitcoin to a ‘Stink Ball’ Among Traditional Currencies
Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, says he is concerned when the price of bitcoin rises. The 99-year-old compared the cryptocurrency to a “stink ball” among traditional currencies. “When you start creating an artificial currency, you’re throwing your stink ball into a recipe that’s been around for a long time, that’s worked very well for a lot of people,” the executive said.
Financial Giant Fidelity’s Director Sees Bitcoin as ‘Exponential Gold’
Financial services giant Fidelity’s director of global macro says bitcoin is “exponential gold.” He explained that gold is “too deflationary and clunky to be used as a medium of exchange,” noting that “investors own it primarily as a store of value — and one of the many reasons bitcoin is often compared to gold.”
Dubai Financial Authority Approves XRP as ‘Recognized Crypto Token’
Dubai’s financial regulator, the Dubai Financial Services Authority, has approved XRP as a recognized crypto token for use within the Dubai International Financial Centre (DIFC), a special economic zone. “Licensed virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services,” Ripple explained, adding that institutions located in the zone can now utilize XRP “to accelerate faster, more efficient global value exchange.”
Robert Kiyosaki Breaks Down Rich Dad’s First Lesson — Says Bitcoin Provides ‘Lifelong Financial Security and Freedom’
Rich Dad Poor Dad author Robert Kiyosaki has broken down Rich Dad’s lesson number one. Explaining in simple terms why the rich become richer, the renowned author said: “They understand the importance of preserving tangible assets, such as gold, silver, and bitcoin, which offer lifelong financial security and freedom.”
What do you think? Is bitcoin a “stink ball,” “exponential gold,” or something else entirely? Be sure to let us know your thoughts, and your favorite crypto in the comments section below.