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Billionaire Hedge Fund Manager Bill Ackman Says Crypto Has No Intrinsic Value

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During The Wall Street Journal’s Future of Everything Festival, American billionaire investor Bill Ackman opined that crypto didn’t have intrinsic value.

Source: u.today

However, he did acknowledge that there was “phenomenal tech” behind it:

I think crypto is a phenomenal technology and I kick myself for not understanding it fully, but it does not have any intrinsic value.

Ackman said that Bitcoin wasn’t a place for parking his money, but he regrets missing out on its run:

It’s not a place where I would feel comfortable personally putting any meaningful amount of assets, and therefore I wouldn’t invest in our firm’s assets.

During the virtual event, the founder of Pershing Square Capital also unveiled a six percent stake in pizza chain Domino’s, making its shares soar.

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