Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Cliff Asness says crypto is only good for speculation, criminality and bitcoin is in a bubble
Finance

Cliff Asness says crypto is only good for speculation, criminality and bitcoin is in a bubble

January 14, 2025No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Cliff Asness says crypto is only good for speculation, criminality and bitcoin is in a bubble
Share
Facebook Twitter LinkedIn Pinterest Email

Cliff Asness.

Chris Goodney | Bloomberg | Getty Photos

Cliff Asness, co-founder of AQR Capital Administration, believes bitcoin is in a speculative bubble after the cryptocurrency’s swift rally carried it above $100,000 following the November presidential election.

“I am on the bubble aspect, on internet,” Asness stated on CNBC’s “Cash Movers” on Monday. “To maneuver me off that, you actually need not a worth change, however a use case. That is what might persuade me to grow to be perhaps extra of a crypto individual after I discover any use for it, other than hypothesis and criminality.”

Asness stated there are three makes use of for crypto that he has recognized: hypothesis, use in war-torn international locations and paying cyber ransom.

Bitcoin rallied 120% in 2024 after an enormous year-end pop on the again of President-elect Donald Trump’s election. Buyers hoped Trump would usher in a golden age of crypto, together with supportive deregulation of the business and a nationwide strategic bitcoin reserve. The digital coin has dipped 3% within the new 12 months, final buying and selling close to $90,000.

“There is not any basic development for crypto as a result of I do not know what the basics are, however there’s a worth development,” Asness stated. “So I’d guess most development followers who’ve it of their universe are literally lengthy.”

Inventory Chart IconInventory chart icon

hide content

Bitcoin over the previous 12 months.

Though Asness is bearish on crypto, he famous that he wouldn’t wager towards it resulting from its volatility.

“I would not brief crypto solely as a result of shorting issues with 100% annual volatility could be a little scary. I believe we have all found what concentrated shorts can do to a portfolio,” he added.

Asness co-founded AQR in 1998 after a stint at Goldman Sachs. He and his companions established the quant-driven agency’s funding philosophy at the College of Chicago’s Ph.D. program, specializing in worth and momentum methods.

Don’t miss these insights from CNBC PRO

Source link

Asness Bitcoin Bubble Cliff criminality crypto good speculation
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Factors that Powered HCI Group’s (HCI) Performance in Q1

May 30, 2025

Why Harmony Gold Mining Company Limited (HMY) Went Down On Tuesday

May 29, 2025

$34 billion and counting, global companies say

May 29, 2025

Goldman Sachs says deal outlook is good, but timing is uncertain

May 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Hugh Jackman’s Reaction Revealed After Deborra-Lee Furness Broke ‘Deal’

May 30, 2025

Domestic, Asian markets rise after US court rules against Trump’s reciprocal tariffs | Business News

May 30, 2025

Quantum computers with 1 million qubits can crack RSA encryption in a week, Google study reveals | Technology News

May 30, 2025

Factors that Powered HCI Group’s (HCI) Performance in Q1

May 30, 2025
Popular Post

Glance aims to revamp Android lock screens in the US

Goldie Hawn Looks Amazing in Black Swimsuit During Greek Vacation

Caitlin Clark eventually got it right, but she needs to consider the agenda around her name

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.