Billionaire John Paulson Warns Cryptocurrencies Will Be Worthless, Bitcoin To...
Billionaire hedge fund manager John Paulson, famed for making a fortune betting against the U.S. housing market, says that cryptocurrencies are a bubble that will prove to be “worthless.” While he sees unlimited downside to crypto, he will not short bitcoin, however. “Even though I could be right over the long term, in the short term, I’d be wiped out,” he explained. Famous Investor John Paulson Predicts Crypto Will Be Worthless John Paulson, the president and portfolio manager of U.S. investment firm Paulson & Co., is an American billionaire....
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“Bitcoin is a bubble” is something that has been thrown around a lot ever since the last bull run began in 2017. A lot of prominent personalities in the finance industry took this stand when the digital asset hit its then all-time high of $19K. The bear market that followed seemed to validate this for the next few years. Then the bull run of 2020 started and a lot of those sentiments were put on the back burner. But now, John Paulson has come to hit the market with the same thing. Related Reading | Here’s How Much Your $1,200 Stimulus Check Would Be Worth In Various Cryptocurrencies....
The billionaire subprime short-trader in the 2008 financial crash said that digital assets have a “limited supply of nothing.” Speaking in a recent interview, subprime short investor and billionaire portfolio manager John Paulson criticized the volatile nature of digital assets, while advocating for investments in traditional safe-havens such as gold.The co-founder of Paulson & Co, a New York-based firm launched in 1994, Paulson was a historic beneficiary from the U.S. housing financial market collapse of 2008 after placing a legendary successful short position.However, Paulson recently....
The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the same route” his country went through in the 1980s.
Mexican Billionaire Warns About Inflation
Mexico’s third-richest billionaire, Ricardo Salinas Pliego, gave some advice Thursday regarding inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami, Florida.
Salinas is the founder and chairman of Grupo....
Christine Lagarde, president of the European Central Bank, has warned that cryptocurrencies are worthless and should be regulated. The ECB boss believes that regulating the sector will prevent people from gambling their life savings on cryptocurrencies. “My extremely modest opinion is that cryptocurrency is worthless. It is founded on nothing, and there are no underlying […]
The president of the Federal Reserve Bank of St. Louis, James Bullard, says that most cryptocurrencies are “worthless.” He noted that if “cryptocurrency can facilitate transactions that are difficult to make in conventional currencies, then they will have a purpose and might circulate alongside the nation-backed currencies.” Fed’s Bullard Says Most Cryptocurrencies Are Worthless Jim Bullard, President of the Federal Reserve Bank of St. Louis, talked about inflation risks and what lies ahead for Fed policy in an interview with Yahoo Finance on Monday. He also....