Forbes - Crypto-titis pandemic 😷

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	Good Thursday morning. Billy Bambrough here with the big news from the world of bitcoin and crypto. 📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.


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24-hour crypto market snapshot

Bitcoin (-2%)

$43,210

Ethereum (-2%)

$3,060

Solana (-3%)

$98.64

Shiba inu (+2%)

$0.00003128

Feeling feint 🥴


	Cryptocurrency prices are falling this morning, with the bitcoin price down almost 2% on the last 24 hours. Ethereum and most of the crypto top ten are declining a similar amount, with solana leading the market lower, down 3%. Memecoin shiba inu is breaking the mould, up 2%, even as its rival dogecoin falls along with other major coins. Crypto prices are again mirroring stock markets which are feeling increasingly uncertain about the on-going situtation between Russia and Ukraine and the looming reality of Federal Reserve interest rate rises. Now read this: Fraudsters are using bots to drain cryptocurrency accounts

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Crypto "a venereal disease"—Munger 🦠



	Berkshire Hathaway chief executive Warren Buffett (left) and vice chairman Charlie Munger are both vocal crypto critics AFP via Getty Images


	No-coiner and proud: Charlie Munger, the Oracle of Omaha Warren Buffett's right-hand man, has again voiced his disdain of bitcoin and cryptocurrencies. "I certainly didn’t invest in crypto," Munger said at the (virtual) annual shareholders meeting of the Los Angeles newspaper company Daily Journal, where Munger serves as chairman. "I’m proud of the fact I’ve avoided it. It’s like a venereal disease or something. I just regard it as beneath contempt." Read the full story on Forbes and see Munger's comments in full here. Why it matters: The backlash against bitcoin, cryptocurrencies and digital assets like non-fungible tokens (NFTs) is growing among traditional investors and those that skeptical of both the financialization of the internet and blockchain technology. Calls for bans rising and criticism of cryptocurrency from an ecological and speculative perspective are fast outpacing enthusiasm. "I wish it had been banned immediately, and I admire the Chinese for banning it," Munger said, who has previously called bitcoin "rat poison." Munger's bitcoin price prediction: Zero within 100 years. The billionaire investor said "the safe assumption" for investors is that over the next hundred years, the price of bitcoin "is going to zero." Bank on Berkshire: However, Munger is open to a digital dollar and central bank digital currencies, broadly, though he questioned the point. "The Federal Reserve could have a currency if they want one…we’ve got a digital currency already, it’s called a bank account," Munger said. "The banks are all integrated with the Federal Reserve system." Place your bets: Munger also warned of other "wretched" market excesses, including the flood of venture capital into startups and last year's GameStop saga, telling investors not to treat the stock market like a "gambling parlor." However, this week Berkshire Hathaway bought $1 billion worth of stock in a digital bank that focuses on crypto. Fortune has a write-up. Now read this: El Salvador leader tells 'boomer' U.S. senators to stand down over bitcoin adoption

👀 Fed eyes crypto "emerging risks"


	🚨 Federal Reserve officials raised concerns about the significant growth of the crypto market, with "some participants" going as far as to warn over "emerging risks to financial stability associated with the rapid growth in crypto-assets and decentralized finance platforms," according to minutes of the latest Fed meeting released yesterday. Bloomberg has a write-up. 📈📉 The Fed also said it's ready to raise interest rates and reduce its balance sheet, confirming market expectations. The market reactions was muted as traders seem to have refocused on the Fed's next meeting in March, when it's expected to start hiking rates for the first time since the onset of the coronavirus pandemic. ⚠️ Yesterday, the Financial Stability Board (FSB), a global financial authority funded by the Bank for International Settlements, warned the fast-growing cryptocurrency markets could be a threat to global financial stability. Read the full story on Forbes. Good to know: Sorry, Jack, you can send ETH tips via Twitter now

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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Forbes - Crypto-titis pandemic 😷

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