Famous Billionaire Slams Cryptocurrencies

Seth Klarman, Chairman of Baupost Group, criticized the cryptocurrency markets. Stating that those who invest in cryptocurrency markets can burst into tears, Klarman said that crypto is meaningless.

Famous Billionaire Slams Cryptocurrencies. Seth Klarman, Chairman of Boston-based hedge fund Baupost Group, has harshly criticized the cryptocurrency markets. Claiming that crypto assets are meaningless, Klarman stated that those who invest in this market can burst into tears. Known to have a fortune of $1.2 billion, Klarman especially criticized the leading cryptocurrency Bitcoin. Emphasizing that Bitcoin, a successful businessman loaded into BTC for environmental reasons, requires excessive power consumption, Klarman added that it is crazy to spend a large amount of energy to solve mathematical operations. Seth Klarman, who targeted altcoins after Bitcoin, stated that it is surprising that there are so many cryptocurrencies. Klarman isn't the only one criticizing cryptocurrencies. From the very beginning, Microsoft's co-founder Bill Gates and CEO of Berkshire Hathaway, even investor Warren Buffett, have been against cryptocurrencies.