{"id":60909,"date":"2022-05-03T11:53:20","date_gmt":"2022-05-03T08:53:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60909"},"modified":"2025-09-05T09:03:33","modified_gmt":"2025-09-05T06:03:33","slug":"citadel-chief-likens-cryptocurrencies-to-the-works-of-abstract-artists","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/citadel-chief-likens-cryptocurrencies-to-the-works-of-abstract-artists\/","title":{"rendered":"Citadel chief likens cryptocurrencies to the works of abstract artists"},"content":{"rendered":"<p>The chief executive officer of hedge fund Citadel, Kenneth Griffin, compared cryptocurrencies to abstract art. He also said that his firm would enter the digital-asset market as a liquidity provider, <a href=\"https:\/\/www.reuters.com\/technology\/citadel-securities-founder-griffin-likens-crypto-value-abstract-art-2022-05-02\/\">Reuters<\/a> reports.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cGiven the growth of institutional interest in cryptocurrencies, I believe it reasonable to expect that we will be more actively involved in this industry, providing liquidity to institutional and, perhaps, retail investors,\u201d he said at a Milken Institute conference.<\/p>\n<\/blockquote>\n<p>According to Griffin, despite his skepticism about cryptocurrencies, he has to acknowledge their value. The billionaire compared these digital assets to his collection of American abstract-art paintings, noting that Bitcoin is worth exactly what people are willing to pay for it.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhy is a painting worth $10 million? It\u2019s oil on canvas. So value is in the eye of the beholder,\u201d he said.<\/p>\n<\/blockquote>\n<p>The Citadel chief explained that the firm is not rushing to launch crypto services, as it seeks to uphold high standards on issues such as anti-money laundering.<\/p>\n<p>In October 2021 Griffin <a href=\"https:\/\/forklog.com\/en\/news\/citadel-ceo-sets-conditions-for-launching-cryptocurrency-trading\">stated<\/a> that his company would not back digital assets until the market is properly regulated.<\/p>\n<p>Earlier in April 2022, the billionaire <a href=\"https:\/\/forklog.com\/en\/news\/citadel-ceo-says-his-scepticism-about-cryptocurrencies-was-mistaken\">acknowledged<\/a> that his skepticism about cryptocurrencies had proven misplaced<\/a>. <\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Citadel&#8217;s chief Kenneth Griffin compared cryptocurrencies to abstract art. He also said that his firm would enter the digital asset market as a liquidity provider.<\/p>\n","protected":false},"author":1,"featured_media":60910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2252,1269,1138],"class_list":["post-60909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-citadel","tag-cryptocurrencies","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=60909"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60909\/revisions"}],"predecessor-version":[{"id":60911,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60909\/revisions\/60911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/60910"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=60909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=60909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=60909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}