Hedge Fund Manager Derides Bitcoin

Hedge fund manager Ken Griffin, who built his hedge fund Citadel Asset Management to $30 billion in assets under management, derided Bitcoin, saying that he and his peers turn the other cheek at the mention of the cryptocurrency.

“I don’t have a single portfolio manager [of mine]who has told me we should buy bitcoin, not a single portfolio manager,” said Griffin at the Delivering Alpha Conference in New York on Wednesday. “I have a hard time finding myself wanting to be in a position for being a liquidity provider for a product I don’t believe in.”

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Furthermore, Griffin threw barbs at the younger generation, wishing they would invest in more tangible, productive activities versus cryptocurrencies.

“I still scratch my head,” said Griffin.