Billionaire Mario Gabelli, CEO of investment giant GAMCO Investors bitcoin and this cryptocurrency He talked about the price.
“We Do Not Admit the Thought that Bitcoin is Limited in Supply”
Gabelli said that he does not accept the idea of BTC being limited in supply because no more can be produced. In an interview with Fox Business, Gabelli said:
“We need to have the blockchain. Buying things bought and settled today is very important in investment. This will happen quickly. But we do not currently accept the idea that something like Bitcoin can be produced so that its supply is limited.”
The famous investor said that he opposes the limited supply of non-produced assets and gave an example:
“Currently, you can buy a baseball team called the Atlanta Braves and sell it two years later for double the price. As you know, baseball teams do not have production. So why not buy a baseball team instead of cryptocurrency?”
Founded in 1976 by Mario Gabelli, GAMCO Investors mutual funds offer investment consultancy and brokerage services to institutional and distinguished investors. The company has a total of $41.3 billion in assets under management.
The company had to pay $3 billion in fines for its 2007 SEC investigation.
Bitcoin price, which has lost 2.03% in the last 24 hours, is trading at $ 38,603 at the time of writing. On the altcoin market side, a red table is dominant, similar to BTC.
*Not investment advice.