Citadel CEO says his scepticism about cryptocurrencies was mistaken

The chief executive of Citadel, Kenneth Griffin, in an interview with Bloomberg named cryptocurrencies the biggest event in finance in the last 15 years. Previously, the head of the hedge fund held diametrically opposite views.

In October 2021 Griffin criticised the amount of time and energy spent on cryptocurrencies, and compared people’s distrust of the dollar to a “call to jihad”. Five months later, the Citadel CEO admitted that he was wrong.

The holder of the world’s 40th-largest fortune ($30.4 billion) noted that he has not yet become a full convert to digital assets, but his firm can no longer ignore the space, worth about $2 trillion.

“I still have my doubts, but today there are hundreds of millions of people who disagree. […] We should seriously consider becoming a market maker in cryptocurrencies”, he said.

Griffin hinted that practical steps Citadel could take “in the coming months”.

As reported, co-founder and managing partner of Thoma Bravo with assets of $83 billion Orlando Bravo invested in bitcoin.

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