Billionaire Investor Says No One Wants to Buy Bitcoin, Market Shows Otherwise
Ken Griffin, a billionaire hedge fund manager at Citadel, has said that not a single portfolio manager he knows is interested in the crypto market.
At the Delivering Alpha Conference in New York, Griffin said:
“I don’t have a single portfolio manager [of mine] who has told me we should buy crypto, not a single portfolio manager. I have a hard time finding myself wanting to be in the position of being a liquidity provider to a product that I don’t believe in. I still scratch my head about bitcoin.”
Product of No Interest
Essentially, Griffin has emphasized Citadel, one of the world’s largest alternative asset managers, will not operate as a liquidity provider for bitcoin because he personally does not believe in the dominant cryptocurrency. While Griffin was unspecific regarding which qualities of bitcoin and cryptocurrencies in general he does not approve of, it is most likely its decentralized nature and the lack of backing from centralized institutions.
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