I Can’t See the Point of Crypto — Nobody Needs to Own It – Markets and Prices Bitcoin News


I Can’t See the Point of Crypto — Nobody Needs to Own It – Markets and Prices Bitcoin News #Point #Crypto #Markets #Prices #Bitcoin #News Welcome to JibGlobe, here is the new resources we have for you today:

Billionaire Seth Klarman: I Can't See the Point of Crypto — Nobody Needs to Own It

Billionaire investor Seth Klarman says he cannot see the point of crypto. “I don’t think anybody needs to own it. It just seems to me that it could end up very much in tears,” he added.

Seth Klarman on Crypto Investing, Gold, and U.S. Dollar

American billionaire investor and hedge fund manager Seth Klarman shared his views on a variety of topics, including cryptocurrency, gold, and the U.S. dollar, in an interview with Harvard Business School, released this week.

Klarman is the chief executive and portfolio manager of the Baupost Group, a Boston-based hedge fund he co-founded in 1982. The investment firm currently has about $30 billion under management. According to Forbes, his estimated net worth is $1.5 billion.

On the topic of cryptocurrency, Klarman said:

I can’t see the point of crypto. It has this feel to me of being like catnip for techies.

“The idea that we’re using more energy than the country of Iceland, to mine extra crypto, to solve math problems that don’t need to be solved, seems crazy to me,” he added.

“Why do people need 10 or 50 different cryptocurrencies? I don’t get it,” the billionaire investor continued, emphasizing:

I don’t think anybody needs to own it. It just seems to me that it could end up very much in tears.

Like this:

Like Loading…



Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button