Hedge Fund Billionaire Speaks for Cryptocurrency

Uğur Bayram

Aug 29, 2021

Billionaire John Paulson spoke with Bloomberg Wealth.

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No trade could be found to cover the huge housing market deficit, and rising prices and rising speculation worries him, Paulson said.
John Paulson told Bloomberg:
“I would not recommend anyone to invest in cryptocurrencies”
Paulson does not comment on the rise of crypto and continues to think that gold is better. If Paulson's predictions come true, he will be right about his comments.
After his long-standing victories, his fortunes were mixed, and his assets under management have dropped from $38 billion to $9 billion since 2011, turning the hedge fund into a family office.
Paulson said:
"No, I'm not. And I would say cryptocurrencies are a bubble. I would describe them as a finite supply of nothing. So the more demand there is than limited supply, the higher the price will go. But the lower the demand, the lower the price will be. A limited amount." No cryptocurrency has any real value except
When asked why the cryptocurrency was not exposed, he replied:
“There are unlimited downsides to crypto. So even if I was right in the long run, I would be wiped out in the short run. In the case of Bitcoin, it went from $5,000 to $45,000. Too variable to be short.”
When Paulson was asked what his best advice was, he said:
“The most important thing is to concentrate on certain areas that you know better than other people. This is what gives you an advantage.”

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