Ken Griffin, the founder and CEO of Citadel LLC, an international American hedge fund and financial services company, was highly critical of Bitcoin (BTC) at The New York Times’ DealBook conference, and made important statements about altcoin projects. Statements of the famous CEO cryptocoin.com We have prepared for you.
“Altcoin projects based on cutting-edge Blockchain technology such as Ethereum will replace BTC”
Ken Griffin, CEO of Citadel LLC, says he believes altcoin projects based on cutting-edge Blockchain technology such as Ethereum (ETH) will replace the leading crypto Bitcoin in the coming years. The famous CEO states that Bitcoin is very harmful to the environment and the transaction fees in Bitcoin are high. In addition, Ken Griffin argues that Bitcoin is open to fraudulent activities, therefore it is not suitable for commercial use. Despite speaking so negatively about Bitcoin, the famous CEO thinks very positively about the Blockchain technology that cryptocurrencies are based on:
I think blockchain is a really interesting technology and a powerful way to maintain a worldwide decentralized ledger.
Referring to the worldwide high inflation and the economic crisis, Ken Griffin does not seem very hopeful that cryptocurrencies can solve these problems. However, he states that the digital dollar to be issued may be more useful. However, the famous CEO, referring to China’s digital Yuan studies, states that the developments are still at a very early stage.
Although he thinks that bitcoin and altcoin projects have no value, Ken Griffin says that Citadel LLC could offer crypto services to its customers if there are clear regulations in this area:
Due to regulatory uncertainty, we do not trade crypto. However, once there is clarity about it, it will be a much more competitive market. If that happens, it would be great and I’ll trade too. Because we need to meet the needs of our partners who want to have a first class company.
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