Liru: Digital Assets Are Fictional and Will Disappear

Value investor Liru has denied the existence value of digital assets. At an event held at Columbia University in the United States on the 15th, Liru stated, "Digital assets are fundamentally fictional and will eventually disappear on their own." He argued that digital assets do not meet the conditions to function as currency and that privately created digital assets lack enforcement and execution systems. Additionally, he pointed out that digital assets facilitate crime and illegal transactions, stating that while they can be collected by individual choice, they do not create meaningful value for society as a whole. Liru, a Chinese-born investor who founded Himalaya Capital in 1997, inherits the value investment philosophy of Warren Buffett and Charlie Munger. His remarks align with Munger's negative view of digital assets, as Munger had strongly criticized them during his lifetime before passing away in 2023. Liru cautioned against investment behaviors that obsess over short-term returns, emphasizing the importance of focusing on the intrinsic value of companies and long-term performance in investing.

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