Citadel hedge fund CEO on cryptocurrencies, "a product that I don’t believe in"

July 21st, 20189:30 am @


Ken Griffin, Citadel hedge fund CEO, says that he doesn’t believe in cryptocurrencies and that he’s still “scratching his head” about Bitcoin. 

The founder and CEO of Citadel hedge fund, Ken Griffin, expressed his stance towards cryptocurrencies in the Delivering Alpha Conference in New York last Wednesday. He said that none of his portfolio managers has told him to buy crypto, and that he’s having a hard time finding himself wanting to be in the position of being a liquidity provider to a product he doesn’t believe in. 

On Bitcoin he said, “I still scratch my head.” Furthermore, he expressed how he expected the younger generation to focus more on more productive activities, rather than doing investment in digital currencies. 

As reported by CNBC, Citadel manages more than $30 billion in assets, whereas the CEO himself has a net worth of $9 billion. 

Griffin is not the only investment company billionaires who expressed their unbeliefs in cryptocurrencies. As reported earlier, Black Rock’s CEO, Larry Fink stated that that none of Black Rock’s clients currently have any interest in crypto exposure with the company.

The other investment companies, such as JP Morgan and Goldman Sachs, however, have already implemented infrastructure and technology to assist with the purchasing of cryptocurrencies.

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