Bitcoin suddenly fell after surpassing $100,000 for the first time this week, with traders closely monitoring Elon Musk’s latest actions.
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The price of bitcoin has surged 120% since the start of the year in a Wall Street-led rally that may be about to spread to other, smaller cryptocurrencies.
Now, as the Bitcoin price braces for another bombshell from MicroStrategy, the CEO of Wall Street’s largest market maker just got bullish on the Bitcoin price, admitting it was a mistake. do not buy earlier.
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Ken Griffin, the billionaire founder of Citadel Securities, admitted it was a “mistake” not to … (+)
“Of course I would have loved to buy something that was trading at 100 times what it was trading at a few years ago,” said Ken Griffin, the billionaire founder of market maker Citadel Securities and its sister hedge fund. , during the press conference. New York Times Offer Book conference. “We all have FOMO (fear of missing out). It’s just universal, it’s part of human psychology.”
Griffin also said he would do everything he could “to help support” United States President-elect Donald Trump, adding that the price of bitcoin and the crypto market are exploding as Trump prepares for his second term, because more and more people want to have “action” in their lives.
Griffin, who once called bitcoin and crypto a “jihadist call” against the U.S. dollar, said bitcoin “may have a future” as people seek to “get away from the yoke of government.”
However, despite his newfound belief in the future of bitcoin, Griffin still doubts that crypto provides a solution to a problem.
“What doesn’t interest me about cryptocurrencies is what problem does it solve for our economy,” Griffin asked. “What problem does this solve?”
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The price of Bitcoin has soared well beyond its previous all-time high this year.
Some Bitcoin proponents say it could help the United States reduce its growing debt problem.
US Senator Cynthia Lummis introduced a bill to Congress titled Boosting Innovation, Technology and Competitiveness Through Optimized Investment Nationwide (BITCOIN), proposing that the United States purchase 1 million bitcoins over five years to reduce the US national debt, a cause championed by Elon. Musk, through his Doge department, on the effectiveness of government since Trump’s election.
“Bitcoin is no longer just a speculative asset,” Nigel Green, chief executive of financial advisory firm deVere Group, said in emailed comments.
“It’s a critical part of the future of finance, attracting everyone from Wall Street heavyweights to retail investors looking to protect and grow their wealth.”
