Charlie Munger, billionaire investor and vice chair of Warren Buffett’s Berkshire Hathaway conglomerate, did not mince words when it came to describing his feelings on crypto.
In the Berkshire Hathaway Annual Shareholders Meeting streamed live on Saturday, Munger addressed questions from investors alongside his fellow billionaire. While Buffett said he would intentionally dodge a question on whether cryptocurrencies were “worthless artificial gold,” Munger’s response was more direct, positing that the questioner was just “waving the red flag at the bull” in addressing him.
“Of course I hate the Bitcoin success, and I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth,” said Munger. “Nor do I like just shuffling out a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air.”
Ethereum’s ETH token has eclipsed the psychologically significant $3,000 per token mark today, rising as high as $3,003 on Binance at the time of publication. ETH price reached the milestone on several major exchanges, including Bybit, Coinbase and BitMEX.
The surge has helped Ethereum overtake institutions such as The Walt Disney Company and Bank of America in terms of total market cap. The world’s largest smart contract-enabled layer-one has grown 24% on the week to $346.72 billion, per tracking website Infinite Marketcap. By comparison, Bitcoin is presently sitting at a $1.079 trillion market cap, right below the total market cap of the precious metal silver at $1.416 trillion and above social media company Facebook at $923.12 billion.
The remarkable run has even prompted renewed speculation that Ethereum could “flippen” Bitcoin, overtaking BTC as the largest digital currency in the world.
Nonfungible token studio, House of Kibaa, has announced an auction of three “Legendary” NBA Top Shot NFTs depicting slam dunks from renowned pro basketball player, LeBron James.
The auction will be hosted in partnership with Heritage Auctions, and will run from May 6 until May 20. The three NFTs will be auctioned off as a single collection. Each of the tokens were released during the first season of NBA Top Shot and are of Legendary scarcity — the rarest tokens that Top Shot collectors can own.
NBA Top Shot has exploded in popularity since launching its closed beta in June 2020, and transition to open beta three months later.
By March 2021, Top Shot had generated more than $230 million in gross sales. According to CryptoSlam, Top Shot’s secondary peer-to-peer marketplace hosts more than $1.8 million worth of trades daily, according to a 30-day rolling average, with Legendary tokens having fetched six-figure prices in recent months.
This Daily Dose was brought to you by Cointelegraph.