Kenneth Fisher, CEO of Fisher Investments, claimed in a recent interview with CNBC-TV that the crypto industry is deceiving investors and will continue to do so in 2022.
The famous billionaire stated that he still believes that the crypto money market poses a significant risk to financial systems, but that it is unlikely to be a potential risk in 2022.
“I think the crypto market is a potential risk, but I don’t think there is a potential risk that could cause problems in 2022. It will probably pose a risk later on.”
Fisher, who is anti-crypto, argued that “this kind of thing is exploding,” pointing to cryptocurrencies. Clarifying the word “explosion,” Fisher claimed that the bear market could continue until the market bottoms out.
“Normally, the bear market starts first. The beginnings of bear markets are never violent. These raids, which usually start gently, become more severe over time.
The violence then increases and you often see these things explode and turn into potential real problems.”
Despite Fisher continuing his anti-crypto rhetoric, the cryptocurrency industry saw tremendous growth in 2021. According to the 2021 Chainalysis Global Crypto Adoption Index, the use of cryptocurrencies has increased this year in many countries around the world.
According to data collected from 154 countries, this score was determined to be 24 points in the second quarter of 2021, compared to the second quarter of 2020, where the overall global adoption score was 2.5.
*Not investment advice.