Lee Cooperman admits that, despite this, he still doesn’t understand Bitcoin Bitcoin Since the beginning of December 2017, it has risen by more than 300%.
In an interview with CNBC on Thursday, the billionaire investor mentioned that it is difficult for people his age to understand Bitcoin. Add to:
“I will be very careful about Bitcoin; I don’t think it makes much sense. If you are nervous about the world’s gold, it will be a better place for me to hold value.”
Cooperman’s statement on Thursday is consistent with previous comments about Bitcoin. As early as December 2017 when the price of BTC rose, Cooperman expressed his confusion about BTC.
Earlier in 2021, Cooperman said in an interview with Bloomberg Surveillance: In terms of NFT, Bitcoin and the like-I am too old. I don’t understand those things, it’s crazy to me, it doesn’t make any sense. I am a meat and potato man, a stock man. “
The chairman of Omega’s advisory board also seems to have doubts about whether Bitcoin can become a global currency, saying that it is not in the interest of the United States to promote alternatives to the US dollar.
On September 7, El Salvador officially became the first country to adopt Bitcoin as its legal tender. Some market commentators said that if this move produces significant economic benefits, other Central American countries may be encouraged to follow the example of El Salvador.
Cooperman’s argument is Gold is a better means of holding value than Bitcoin Faced with their respective performances in the past ten years, the same is true.
Although Bitcoin has provided more than 300,000% returns in the past ten years, Gold’s 10-year return recently turned negativeAs of the time of writing, the 10-year price performance of gold is negative 3%.
As Cointelegraph previously reportedBloomberg Intelligence analyst Mike McGron has said that Bitcoin will replace gold.