Home Business Ken Griffin says he would not see ‘financial underpinning’ of cryptocurrencies

Ken Griffin says he would not see ‘financial underpinning’ of cryptocurrencies

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Ken Griffin talking on the 2018 Delivering Alpha Convention in New York on July 18th, 2018. 

David A. Grogan | CNBC

Citadel CEO Ken Griffin stated Friday that he would not spend a lot time fascinated about bitcoin or different cryptocurrencies.

“I simply do not spend a lot time fascinated about cryptocurrencies … I do not see the financial underpinning of cryptocurrencies. I perceive worth a inventory — the online current worth of earnings — I perceive how to consider foreign money alternate charges around the globe,” Griffin stated to Andrew Ross Sorkin on CNBC’s “Squawk Box.” “I do not know the way to consider what’s successfully a digital token.”

Bitcoin has soared in latest months, boosted partly by adoption from main monetary establishments, traders and corporations, together with Tesla.

Citadel’s market making arm handles about 40% of the each day retail buying and selling in the USA, making it one of many largest firms concerned within the nation’s monetary plumbing. The agency additionally operates a hedge fund.