The vastly different opinions on Bitcoin and other cryptocurrencies often lead to some interesting discussions. Most financial experts do not take kindly to this new form of money, though.
Elliott Management, a well-known multi-billion dollar hedge fund, claims cryptocurrencies are a “brilliant scam”. There has been a rather interesting shift taking place in the financial sector over the past few months.
A growing number of cryptocurrency-related hedge funds have been popping up all over the world. With these investment opportunities, anyone can be exposed to cryptocurrency’s price volatility without having to buy Bitcoin or altcoins directly. It appears this particular business model is only getting more popular.
That doesn’t mean every hedge fund in the world is confident that cryptocurrencies are worth investing in. Some of these funds, such as Elliott Management, are convinced these currencies will eventually disappear and be considered one big scam.
In fact, Elliott Management told all of its clients that cryptocurrencies will be viewed as “one of the most brilliant scams in history”. It’s a rather strong opinion, though one that is not exactly surprising at this stage either. Read more from themerkle.com…
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