Bill Ackman, the Billionaire, will not Invest in Bitcoin due to its Highly Speculative Nature

Bill Ackman is a billionaire and the founder of a hedge fund management company, Pershing Square, and given his background with finance, he is pretty well sought with the idea of cryptocurrencies and investing in it. When asked if Bill would personally invest in it, his answer was plain and simple and tipped towards the speculative side of Bitcoin, which loosely translates into a big fat No. He thinks that Bitcoin as a cryptocurrency is highly speculative and why go down a road that will only bring speculation and financial hurt to you. 

Bitcoin is not so Great Investment Vessel, According to Ackman

You can’t argue with this logic, but the volatility aspect of the cryptocurrency applies to Bitcoin and other cryptocurrencies. So, the whole market is speculative? Apparently, not as many successful traders and investors have been going at it for so long, and they are absolutely hooked on it. 

He seems to be more interested in some other types of cryptocurrencies and is fairly optimistic that these are going to turn out great such as the Helium token (HNT), which belongs to the Helium project that has built a decentralized wireless network system only recently. The idea behind this token is that the Helium project sells Helium hotspots, wireless routers and provides the clients with HNT in return for using that hotspot.

Despite praising the very hard work that Helium seems to be putting into this whole project, Ackman has cleared that neither he nor Pershing Square is investing or involved in any of the financial matters at all. He also supports the idea of cryptocurrencies and admits that these are the technologies of the present and tomorrow and are here to stay, but knowingly the speculative nature of the asset he won’t be willing to invest into it at all. 

When asked if he would be alright if one of his friends or a close associate put a lot of their money into Bitcoin? He said that he would be worried for sure and would advise them to pull that money out of it and put it into something that is a little more durable.

Leave a Reply

Your email address will not be published. Required fields are marked *