BIGtoken Offers Charlie Munger a $1 Million Wager That Bitcoin Will Outperform Berkshire Hathaway

Rhea-AI Summary

BIGtoken Inc. has proposed a $1 million wager to Charlie Munger, betting that bitcoin will outperform Berkshire Hathaway over the next three years. CEO Lou Kerner's offer comes in response to Munger's critical remarks about bitcoin and Tesla. Kerner expresses disappointment in Munger's perspective on bitcoin's value, claiming it has generated significant wealth. The potential winnings from the wager would be donated to organizations promoting cryptocurrency education.

Positive

• Proposed a $1 million wager, highlighting confidence in bitcoin's performance.
• Demonstrates BIGtoken's commitment to cryptocurrency education through potential donation.

Negative

• Munger's dismissal of bitcoin may indicate wider skepticism within traditional investment circles.
• The wager could reflect volatility in BIGtoken's confidence regarding market conditions.

BIGtoken® Inc., the first privacy focused, opt-in data marketplace where people own and monetize their data, offers Charlie Munger a $1 million wager that bitcoin will outperform Berkshire Hathaway over the next three years.

BIGtoken CEO Lou Kerner has written a letter to Charlie Munger in response to Munger’s recent comments during an interview when he dismissed the rising share price of Tesla and bitcoin. When asked about bitcoin’s price and Tesla’s market cap, Munger said, “I don’t know which is worse.” Munger also said, “I don’t think bitcoin is going to end up the medium of exchange for the world. It’s too volatile to serve well as a medium of exchange. And it’s really kind of an artificial substitute for gold. And since I never buy any gold, I never buy any bitcoin.”

Lou writes, “I’m disappointed that a man of your stature would choose to disparage an asset that I’m confident you don’t have any real knowledge of. Particularly when bitcoin, like Berkshire Hathaway, has created so much wealth for so many people. And I believe that bitcoin will create significantly more wealth in the years to come.”

He continues, “In the spirit of educational philanthropy, my company, BIGtoken, would like to wager you $1 million that bitcoin will outperform Berkshire Hathaway over the next three years. If bitcoin outperforms, we’ll take our $1 million winnings and give it to organizations that educate people about crypto, e.g. Crypto Blockchain Plug in Inglewood and The Blockchain Center in Miami. Because that’s truly one of the greatest gifts we can give another person.”

You can read the full letter to Charlie Munger here.

About BIGtoken

BIGtoken® believes that data privacy is a human right. BIGtoken is the first privacy focused, opt-in data marketplace where people own and monetize their data. Through a transparent platform and consumer reward system, BIG offers users choice, transparency, and compensation for their anonymized data. Participating consumers earn rewards and advertisers and media companies get access to insights from compliant first-party data for marketing and media activation. For more information on BIGtoken, visit bigtoken.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210225005922/en/

FAQ

What is BIGtoken's wager to Charlie Munger?

BIGtoken proposed a $1 million wager that bitcoin will outperform Berkshire Hathaway over the next three years.

Who is the CEO of BIGtoken?

Lou Kerner is the CEO of BIGtoken.

Why did Lou Kerner write to Charlie Munger?

He responded to Munger's critical comments about bitcoin and Tesla, expressing disappointment in Munger's views.

What will happen to the winnings if BIGtoken wins the wager?

If bitcoin outperforms, the winnings will be donated to organizations that educate about cryptocurrency.

What does BIGtoken do?

BIGtoken is a privacy-focused data marketplace that allows users to own and monetize their data.