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Why the big names in finance have changed their tune on Bitcoin

by , 23 March 2022
Why the big names in finance have changed their tune on Bitcoin
For years, some high profile, investors and economists as well as governments have denounced bitcoin.

They've called bitcoin “evil”

A useless asset…

A giant bubble…

And declared it “dead” over 400 times.

But the digital asset has persisted and converted some of its most critical sceptics…

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Bitcoin is winning over the big names in finance…
Steve Cohen – founder of Point72 Asset Management with an estimated $11.1 billion to his name was, until recently, a crypto sceptic.

But his “cryptomaniac” son finally sat him down and explained it to him. And he’s changed his tune.

Now Cohen compares bitcoin to the internet in its potential for wealth creation.
As he told a roomful of investors at a Conference in September 2021:
“Once I decided there were opportunities, and I thought this could be a space like the internet – it could be incredibly transformational – I wasn’t going to miss this.”    

Cohen now owns bitcoin in his personal portfolio and through his firm.

But he’s not the only billionaire to convert to bitcoin.

Dawn Fitzpatrick, CEO of Soros Fund Management, revealed in October last year that Soros’s fund owned bitcoin, noting it had “crossed the chasm to mainstream”.

Paul Tudor Jones, founder of the $11 billion fund Tudor Investment Corporation, dropped his early scepticism of bitcoin and now prefers it as an inflation hedge over gold.

And the list of bitcoin converts goes on….

Ray Dalio – founder of Bridgewater Associates, even refers to it as “digital gold.”

Billionaire investor, Peter Thiel is now long the asset.

And, fund manager Mike Novogratz who warned bitcoin would be the biggest bubble ever, bought bitcoin at $56,500.

Many more big names are becoming adoptees of bitcoin and the greater cryptoverse.

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Isn’t it time you adopted some crypto into your portfolio?

Make no mistake, the cryptoverse can be terrifying… after all there’s a whole lot more to it than just  bitcoin. I’m sure you’ve heard about Ethereum and the importance of blockchain, and decentralised finance, through defi, as well as crazy digital collectibles in the form of NFTs…?

If you really want to take a step into these waters but just don’t know where to start, then you need to
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The fact is… crypto is here to stay
In fact, while market watchers are worrying about the war in Ukraine, inflation, and the Fed, crypto markets have been chugging along pretty steadily.

Sure, it’s still as volatile as ever, but that’s nothing new.

While many will see today’s volatility as a reason to stay away from the crypto market, in reality, it’s probably the best time to get involved.

These ‘crypto winters’, so to speak, have historically presented the best buying opportunities. They are a chance for regular investors to either take their first plunge or top up an existing holding.

And if history is anything to go by, a small investment during these crypto winters, could turn into a nice windfall. If you want to know what our favourite crypto to buy now are, then
check out this report.



Why the big names in finance have changed their tune on Bitcoin
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