A well-known cryptocurrency skeptic, founder and CEO of hedge fund Citadel, explained why he came to think of digital assets as a great product.
Kenneth Griffin said that his company plans to start working with cryptocurrencies in the coming months.
“I’ll be honest: all this time I was in the camp of skeptics. But today, the total capitalization of the cryptocurrency market reaches about $2 trillion. And it says that I was wrong,” said the CEO of Citadel.
And he clarified that digital currencies have become “one of the most remarkable products in the financial industry over the past 15 years.”
Griffin admitted that he still has some skepticism about cryptocurrencies, but there are already millions of people in the world who do not agree with this. Citadel, the CEO assured, is trying to help institutions and private investors with the allocation of assets in portfolios, so it is time to seriously think about connecting cryptocurrencies in the coming months.
Last fall, at a meeting of the Economic Club of Chicago, Kenneth Griffin said that the uncertainty in the regulation of cryptocurrencies does not allow a market maker to become a member of the crypto space. Griffin has also criticized bitcoin for its low transaction speed and possible negative impact on the environment.
Last year, Oaktree Capital co-founder Howard Marks, who had previously been dismissive of bitcoin, also became more friendly towards cryptocurrencies.
Source: Bits
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