"Cryptocurrencies Will Eventually Prove To Be Worthless" – Billionaire John Paulson Lambasts Crypto's Volatile Nature.
31 Aug 2021, 08:00
“Cryptocurrencies Will Eventually Prove To Be Worthless” – Billionaire John Paulson Lambasts Crypto’s Volatile Nature
John Paulson is a co-founder of Paulson & Co, and the historic beneficiary from the U.S. housing financial market collapse of 2008 in which he placed a legendary successful short position that saw him earn about $4 billion. The billionaire has stated that cryptocurrencies have “no intrinsic value.”
Speaking on Bloomberg’s Wealth with David Rubenstein, Paulson, when asked what he thought of the cryptocurrency market, pointed out that due to the high volatility of the assets, their limited supply meant nothing as they have no intrinsic value.