Citadel hedge fund CEO Kenneth Griffin compared cryptocurrencies to abstract art. He also stated that his company will enter the digital asset market as a liquidity provider. Reuters.
“Given the growth of institutional interest in cryptocurrencies, I think it is reasonable to expect that we will be more actively involved in this industry, providing liquidity to institutional and possibly retail investors,” he said at the Milken Institute think tank conference.
According to Griffin, despite his skepticism about cryptocurrencies, he is forced to recognize their value. The billionaire compared these digital assets to his collection of American abstract paintings, noting that bitcoin is only worth as much as people are willing to pay for it.
“Why is the painting worth $10 million? This is oil on canvas. So value is in the eye of the beholder,” he said.
The head of Citadel explained that the company is in no hurry to launch crypto-currency services, as it wants to ensure high standards are maintained in matters such as combating money laundering.
In October 2021, Griffin stated that his company would not support digital assets until that market was properly regulated.
Recall that in April 2022, the billionaire admitted his skepticism about cryptocurrencies was wrong.
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Citadel hedge fund CEO Kenneth Griffin compared cryptocurrencies to abstract art. He also stated that his company will enter the digital asset market as a liquidity provider. Reuters.
“Given the growth of institutional interest in cryptocurrencies, I think it is reasonable to expect that we will be more actively involved in this industry, providing liquidity to institutional and possibly retail investors,” he said at the Milken Institute think tank conference.
According to Griffin, despite his skepticism about cryptocurrencies, he is forced to recognize their value. The billionaire compared these digital assets to his collection of American abstract paintings, noting that bitcoin is only worth as much as people are willing to pay for it.
“Why is the painting worth $10 million? This is oil on canvas. So value is in the eye of the beholder,” he said.
The head of Citadel explained that the company is in no hurry to launch crypto-currency services, as it wants to ensure high standards are maintained in matters such as combating money laundering.
In October 2021, Griffin stated that his company would not support digital assets until that market was properly regulated.
Recall that in April 2022, the billionaire admitted his skepticism about cryptocurrencies was wrong.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL+ENTER
