Billionaire Portfolio Manager says no recommendation for anyone to invest in crypto

Wealthy portfolio fund manager claimed that he will never suggest anyone go with the Investment in the crypto market. 

When it comes to crypto then people talk about its volatility but still people can’t ignore the adoption in different kinds of industry in practical use. But still there are numbers of people who never admitted crypto assets as an option of Investment. 

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Paulson is a co-founder of New York-based firm Paulson & Co. Paulson managed a huge amount of funds through his Investment strategy in the traditional financial market. As per record, he made around $20 billion for himself and also he betted against the subprime mortgages in the 2008 financial housing market collapse. 

Recently Paulson appeared in an interview on Bloomberg, where the interviewer asked a question to Paulson, what he thinks about Crypto. 

Paulson said that crypto assets have no intrinsic value and these are highly volatile. And if anyone will ask him for the crypto then I would never suggest anyone to invest their funds in the crypto assets. 

“Cryptocurrencies, regardless of where they’re trading today, will eventually prove to be worthless. Once the exuberance wears off, or liquidity dries up, they will go to zero. I wouldn’t recommend anyone invest in cryptocurrencies.”

Paulson also pointed out why the crypto market is getting a huge money inflow. According to Paulson, Covid-19 is responsible for this, because in that pandemic situation many people get into easy ways to make money. But here I will never suggest to go with crypto Investment and we should remain in the safe zone by keeping Investment away from this market.

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