Magellan (fund manager) founder says crypto going to zero.
20 Jul 2021
Magellan Financial Group co-founder Hamish Douglass says “when we look back in 20 years it will be the case study of the irrationality”.
- “Cryptocurrencies, I have to say, are one of the greatest irrationalities I’ve seen in a very, very, long period of time because of the cult-like following it has behind it and the scale that is behind it”
- it is inevitable crypto crashes to zero when other speculative bubbles eventually run their course and blow up.
Agree, disagree … ? Comments welcome! Oh, one thing he is spot on about:
- said he expected to be widely attacked for his views on crypto
Yep. Here is the link (may be gated) for more.
Meanwhile, Bitcoin update: