American billionaire and investor Leon Kuperman admitted in an interview with CNBC that he still does not understand Bitcoin, despite the fact that the cryptocurrency has grown by more than 7,600% over the past five years. RBC writes about it.
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Cooperman urged those who, like him, are poorly versed in the matter, to exercise caution when investing in cryptocurrency.
“If you don’t understand #bitcoin, it means you’re old. I’m 78. I’m old. I don’t understand it, ”says Lee Cooperman. “I’d be very careful with #btc… It does not make a great deal of sense, and if you are nervous about the world gold to me would a better place to store value. ” pic.twitter.com/OANWHHjpWx
– Squawk Box (@SquawkCNBC) September 9, 2021
“If you don’t understand Bitcoin, it means you are old. I am 78 years old. I am old. I do not understand this. I would be very careful with BTC, ”said Kuperman.
Leon “Lee” Cooperman is the CEO of hedge fund Omega Advisors, which manages $ 3.3 billion in assets.
See also: August records in the cryptocurrency market. What will happen to the bitcoin rate
For those who do not consider themselves to be a cryptocurrency expert, investing in gold is more suitable, according to Cooperman.
In early September, Massachusetts Senator Elizabeth Warren called cryptocurrency a new shadow bank.
According to Warren, digital services offer credit products to users without guaranteeing them protection and stability. Whereas the traditional financial system is based on the fulfillment of exactly these conditions, the senator added.
Nicholas Taleb, author of Black Swan, argues in his latest research that bitcoin has not been able to become a currency without government, inflation hedge or a safe haven for investment.
What’s with the bitcoin rate
This Tuesday has become another black day for the crypto market. At the moment, the cost of bitcoin lost up to 18%.
Currently, the number one cryptocurrency is trading around the $ 46,500 mark.
You can learn everything about how to make money on investments in cryptocurrency and gold at the conference “Living on Interest”.