Billionaire Ken Griffin Admits He Was Wrong About Crypto

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Billionaire Ken Griffin Admits He Was Wrong About Crypto
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ICYMI: after seeing the cryptoindustry grow to trillions of dollars worth of value, Citadel CEO Ken Griffin admitted that he was wrong about the new asset class cryptocurrencies

Citadel CEO Ken Griffin has changed his tune on cryptocurrencies, admitting that he was wrong about the burgeoning asset class, in a recent interview with Bloomberg.

After seeing the crypto industry grow to trillions of dollars worth of value, the billionaire, whose net worth is estimated to be $25.6 billion, claims that he has not been right on the call: But the crypto market today has a market capitalization of about $2 trillion in round numbers, which tells you that I haven't been right on this call.It's fair to assume that over the months to come, you will see us engage in making markets in cryptocurrencies.Griffin, however, retains a healthy dose of skepticism when it comes to cryptocurrencies.I don't see the economic underpinning of cryptocurrencies. I understand how to value a stock — the net present value of earnings.

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