Paul Singer: Bitcoin Utterly Nothing

Posted by admin on Sunday, March 4, 2018

Paul Singer Money Quote saying pronounces Bitcoin and all cryptocurrencies valueless as founder of $34 Billion Dollar hedge fund, Elliot Management. Paul Singer said:
Bitcoin absolutely and utterly nothing. No limit to supply except human folly Quote

“Since Bitcoin and its cousins are, at the core, absolutely and utterly nothing, there is no limit on Bitcoin supply except the outer boundaries of human folly” — Paul Singer


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Paul Singer is criticizing Bitcoin and other cryptocurrencies. He runs a large hedge fund called Elliot Management. In the quote, Singer says that Bitcoin and its cousins are “at the core, absolutely and utterly nothing.”

By this, he seems to mean that they have no intrinsic value and are not backed by any real assets. Singer believes the only thing giving cryptocurrencies value is “human folly,” implying that their prices are driven more by speculation than real worth. As the founder of a major investment firm, Singer appears to be a skeptic of cryptocurrencies’ long-term viability due to this lack of underlying assets or use.

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