The executive director of Citadel LLC, expressed the opinion that cryptocurrencies can not be successful. Worth noting that this is not the first time that the billionaire talked about cryptocurrencies in such a manner. Griffin spoke sharply against bitcoin in December last year. Then the billionaire said that the coin is a bubble that will burst sooner or later.
He believes that cryptocurrencies can not be successful, because already a mandatory alternative exist, which is fiat currency. The U.S. Internal Revenue Service does not accept deductions in bitcoins and other digital currencies, and taxes must be paid in dollars, Griffin explained.
Also, as an argument, the investor named the fact that not a single manager of his personal investment portfolio had not yet proposed investing his capital in bitcoin. In conclusion, the investor noted that he can not recommend cryptocurrency to any of his clients, as he is not sure about them himself.
WHY IS IT IMPORTANT?
Kenneth Griffin is the manager of the hedge fund Citadel Investment Group, at the moment he is estimated at $3 billion. Citadel is considered one of the largest and most successful stock organizations in the world.
After this speech, many crypto experts accused Kenneth Griffin that he is not very well versed in the specifics of cryptocurrencies and may lose an excellent opportunity to earn.
By Ekaterina Ulyanova