Billionaire John Paulson says cryptocurrencies are a bubble, will prove to be worthless
Cryptocurrencies, despite being considered among the market’s hot commodities, have drawn sharp criticism from billionaire hedge fund manager John Paulson who described it as a “bubble” that would prove to be “worthless”. Paulson, while speaking at an episode of ‘Bloomberg Wealth with David Rubenstein’ aired on August 30, said there is no intrinsic value attached with cryptocurrencies except for a “limited amount”. The segment is “too volatile”, he said, pointing out that Bitcoin went from US$5,000 to US$45,000 within a short period. Read it here.
