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Li Lu calls crypto fundamentally bogus and predicts its demise

1 reports1 sources10/21/2026 updated

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Li Lu, founder of Himalaya Capital and disciple of Charlie Munger, called cryptocurrency "fundamentally bogus" and predicted its disappearance at a New York value investment lunch. He argued crypto cannot function as a currency due to a lack of execution mechanism, facilitates crime, and advocated for its ban, stating society would be better off without it.

Written with AI from the reporting · updated 10/21/2026

Latest developmentOct 21, 12:40
Li Lu Calls Crypto "Fundamentally Bogus" and Predicts Its Demise at Graham & Dodd Luncheon
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  1. 1Unclassified fact stationOct 5, 00:00recorded Oct 21, 12:59single source

    Li Lu calls crypto fundamentally bogus and predicts its demi

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    Evidence & revisions · 1 source records
    Subject：
    Li Lu
    Action：
    called crypto fundamentally bogus and predicted its demise
    Object：
    crypto
    Occurred (fact side)：
    Oct 5, 00:00
    BeInCrypto ↗Report pageOriginal / first version
    Published (valid side)：
    Oct 21, 12:40
    First seen (known side)：
    Oct 21, 12:59
    Fact stationSingle source · one-sided claim

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Oct 21
  1. BeInCryptoRelated fact: single source
    Li Lu Calls Crypto "Fundamentally Bogus" and Predicts Its Demise at Graham & Dodd Luncheon

    Report first recorded Oct 21, 12:59

    Li Lu, Himalaya Capital founder and Charlie Munger's successor, called crypto "fundamentally bogus" and predicted it will disappear on its own. He argued a currency needs an enforcement mechanism to work as settlement or store of wealth, which a project started by individuals cannot provide. Li Lu also said crypto helps criminals and facilitates illicit transactions, and went further to say society would be better off banning it.

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