Bill Ackman, founder of Pershing Square Capital Management, said he would not invest in Bitcoin, because it is a “purely speculative asset”.
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\”It [Bitcoin] is worth exactly as much as someone else is willing to pay for it,\” Ackman said at a webinar of the Synagogue on Fifth Avenue in New York.
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However, he noted that there are other interesting digital assets. As an example, he cited Helium, a decentralized network for IoT-devices whose nodes are routers.
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Ackman said the project \”motivates people to build a global wireless network.\” Pershing did not invest in Helium or its token, the billionaire noted.
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\”I think cryptocurrencies won’t disappear. They are really interesting from a business opportunities perspective, but I would not invest in Bitcoin or another asset that is purely speculative,\” he said.
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Earlier, in a conversation with The Wall Street Journal, Ackman stated that digital gold has no intrinsic value. He added that he would be concerned if any of his friends invested a large portion of their wealth in one or more cryptocurrencies.
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Earlier, Bank of England Governor Andrew Bailey expressed a similar view. The official stressed that Bitcoin investors should be prepared to lose their money.
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