Himalaya Capital Founder Li Lu Urges Crypto Ban, Predicts Its Demise

Himalaya Capital founder and chairman Li Lu urged a ban on cryptocurrency and predicted its eventual disappearance, questioning whether digital assets can reliably settle transactions or preserve wealth. Li made the remarks during a question-and-answer session at Columbia Business School’s 36th Annual Graham & Dodd Luncheon in New York City on Oct. 5. An audience member had asked about crypto markets and global financial conditions. “I think we’re all better off banning it,” Li said. He also called crypto “fundamentally bogus” and said it would eventually disappear on its own. He gave no timetable and did not assess individual digital assets. Li questioned whether crypto has the enforcement mechanism needed for dependable settlement or a store of wealth.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.