- US billionaire — John Paulson says cryptocurrencies are ‘worthless’.
- He says they exist in a bubble and will fall to zero once demand drops.
- Alternatively, he says that gold is a better option for investing.
The famous billionaire — John Paulson, believes that cryptos are not worth the hype. He believes that cryptocurrencies are a waste of time and does not recommend investors to invest in these digital assets.
The 65-year-old billionaire investor shares his thoughts on good investments with Bloomberg. Having made his fortune by betting against the US’s housing market over a decade ago, Paulson is certain about his current choices in investments.
Paulson Does Not Recommend Investing in Cryptos
To highlight, Paulson says he is not a fan of cryptocurrencies. In fact, he says that cryptos are a ‘bubble’. He elaborates by saying that cryptos are a limited supply of nothing. For instance, he says, until there is high demand over limited supply, the asset prices will go up.