Summary
- Cliff Asness believes Bitcoin is caught in a speculative bubble but mentioned that actual use cases, not price changes, are needed.
- He emphasized that cryptocurrencies are not used beyond crime and speculation and do not create unique trends.
- Asness stated that although he is skeptical about cryptocurrencies, he has no intention of taking a short position.
According to CNBC on the 13th (local time), Cliff Asness, co-founder of AQR Asset Management, stated, "I think Bitcoin (BTC) is caught in a speculative bubble," and added, "To change my mind, it would require actual use cases rather than price changes of Bitcoin."
He emphasized, "Cryptocurrencies have no use beyond crime and speculation," and added, "Moreover, cryptocurrencies only experience price changes without creating any distinct trends or flows."
Additionally, he mentioned, "Although I am skeptical about cryptocurrencies, I have no intention of taking a short position."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
