Billionaire and Citadel founder changes his mind about Bitcoin
Citadel, a financial services company, will invest in Bitcoin. Interestingly, its founder Ken Griffin was among the critics of Bitcoin a few years ago. Now he admits he was wrong and calls crypto “one of the greatest stories in finance of the last 15 years.”
The rise of cryptocurrencies manages to convince even the most skeptical. Since last year, we have thus observed more and more fortunes positioning themselves in favor of Bitcoin. A sign that crypto is on the way to establishing itself in the economic landscape for a long time, some of these fortunes were openly against Bitcoin some time earlier. This is the case of Ken Griffin…
The Firm Citadel Will Invest In Bitcoin
Citadel is an American company that offers various financial services. The company manages approximately $38 billion worldwide. Citadel’s capitalization is estimated at $22 billion.
Citadel’s founder is Ken Griffin. Recently, he gave an interview on the Bloomberg channel. The discussion mainly focused on the impact of the current geopolitical situation on the markets. Very quickly, the question drifted to cryptos. Ken Griffin then announced that the Citadel company would soon turn to cryptos.
“It is reasonable to think that in the coming months we will be engaging in the crypto markets. – Ken Griffin, Founder of Citadel
In reality, Citadel’s rapprochement with the crypto field is already done. In fact, last January, two companies invested $1.15 billion in Citadel. One of these two companies was a crypto firm, Paradigm.
Citadel Founder Changes His Mind About Bitcoin
Citadel will therefore soon invest in Bitcoin and join other institutional players who have already taken the plunge. But perhaps most important to highlight is Ken Griffin’s change in opinion on Bitcoin . In fact, Ken Griffin was not a bitcoin supporter a few years ago.
For example, in November 2017, he compared Bitcoin to the speculative tulip craze in the Netherlands in the 17th century. At that time (in 2017), the Bitcoin price was $10,000. For him, Bitcoin was just a bubble that was going to end “in tears.”
“And I’ll be clear, I’ve been on the [Bitcoin] side during this time. But the cryptocurrency market today has a market capitalization of around $2 trillion, which tells you that I was wrong on that one. – Ken Griffin, Founder of Citadel
Ken Griffin returned during his interview with Bloomberg on his anti-Bitcoin statements and admitted to having changed his mind . He even admitted that “crypto has been one of the greatest stories in finance in the last 15 years”!