CandleFocus

Legendry Hedge Fund Manager Lambasts Bitcoin

Summary:

Prominent hedge fund manager Cliff Asness remains skeptical about Bitcoin despite its record-breaking rally. Asness believes Bitcoin could be a bubble without a legitimate use case, but he refrains from shorting it due to its high volatility. Asness, who previously dismissed following cryptocurrency trends as a quantitative trader, doubts the existence of a reliable valuation model for Bitcoin. He expressed his skepticism on Twitter following a cryptocurrency market crash in 2022. Asness's stance aligns with JPMorgan CEO Jamie Dimon, who also expressed doubts about Bitcoin's value and its association with criminal activities. Despite gaining support from influential figures and institutions like BlackRock, Bitcoin still faces resistance from skeptical traditional finance players.

Related News