Cryptocurrency ’is a pure trading instrument,’ hedge fund CEO says
Hedge funds are adopting crypto investments, but one asset manager says it is all a speculative play. Not all hedge fund managers are sold on crypto as Man Group CEO Luke Ellis has compared cryptocurrencies to tulip bulbs.Speaking to the Financial Times, Ellis remarked that the utility of crypto comes from its volatility, thus presenting the asset class as a viable trading opportunity. According to the CEO of the world’s largest publicly-traded hedge fund:“If you look at cryptocurrencies as a whole, it is a pure trading instrument. There is no inherent worth in it whatsoever. It is a tulip....
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