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John Paulson, who made a fortune betting against the US housing market, thinks that Bitcoin is too volatile to short.
September 1, 2021 at 8:00 am UTC · 2 min read
Billionaire hedge fund manager John Paulson, notorious for making a fortune betting against the US housing market, thinks that cryptocurrencies, lacking intrinsic value, will eventually become worthless.
In an episode of “Bloomberg Wealth with David Rubenstein,” Paulson, who made $20 billion for himself and investors when subprime mortgage bonds collapsed and spurred the financial crisis in 2008, explained why he avoids Bitcoin (BTC). Not a Bitcoin believer “Cryptocurrencies, regardless of where they’re trading today, will eventually prove to be worthless.
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Source: https://cryptoslate.com/billionaire-who-shorted-2008-crisis-has-a-bleak-warning-for-bitcoin-btc/
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