Billionaire investor and hedge fund manager Bill Ackmanannounced that he is optimistic about cryptocurrencies even after the collapse of one of the world’s largest crypto exchanges.
Famous Billionaire Believes Cryptocurrencies Have A Future
“I was initially a crypto skeptic, but after reviewing some of the more interesting crypto projects, I came to believe that crypto could enable the creation of useful businesses and technologies that hadn’t been produced before,” Ackman said in a Twitter message Sunday.
The telephone, the internet, and crypto share one thing in common. Each technology improves on the next in terms of its ability to facilitate fraud. As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to
— Bill Ackman (@BillAckman) November 20, 2022
Ackman, founder and CEO of Pershing Square Capital Management, said he believes crypto “has the potential to bring great benefit to society as long as the industry eliminates bad actors.
His praise for the technology came after crypto exchange FTX filed for bankruptcy protection.
“I think crypto is permanent and has the potential to greatly benefit society and grow the global economy with proper oversight and regulation,” Ackman said.
“Therefore, all legal participants in the crypto ecosystem should be highly encouraged to expose and remove fraudulent actors as they greatly increase the risk of regulatory interference that will carry the positive potential impact of crypto back for generations.”
Ackman Highlights Helium
In Ackman’s message, a positive example for crypto is a blockchain-based network. HeliumHe pointed to.
“It created a global Wi-Fi network that is used by Helium and others to monitor devices globally and for other uses that leverage access to global Wi-Fi networks,” Ackman said in a tweet.
Ackman invests in various crypto projects, venture capital funds, and companies that reduce fraud in crypto, which he claims represent less than 2% of his assets.
It was seen that the price increased after Ackman tweeted Helium, but experienced a 12 percent decrease after about 1 hour.
*Not investment advice.
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