Ken Griffin, the billionaire founder of Citadel Securities, is still skeptical about cryptocurrency.
What Happened: Speaking to Bloomberg editor Erik Schatzke at the Milken Institute Global Conference in Beverly Hills on Monday, Griffin revealed that crypto is the “great hotspot topic of debate” within his firm.
“All my colleagues who are younger than I probably think I’m a dinosaur on this issue. They’re big believers. They believe that cryptocurrency has an important role in the global economy as a means of facilitating payment in a web3 world,” said Griffin.
“I have to live with the reality that an asset’s worth what people perceive it to be worth.”
As a result, the billionaire investor also said that it is reasonable to expect Citadel to be “more involved in the crypto space” and the firm would likely look into providing liquidity to institutional and retail investors.
See Also: Citadel Securities Will Engage In Crypto This Year: Ken Griffin
However, Griffin still lacks the conviction that crypto has transformed the world for the better. He said that while he is proud of what Amazon.com Inc (NASDAQ:AMZN) and Apple Inc (NASDAQ:AAPL) have done for the U.S. consumer but is still waiting to see the impact that crypto has made.
“These are businesses that have really, clearly changed the world for the better. I’m still looking for that story of how crypto has made the world so much better. I’m looking at stories about how Bitcoin consumes as much power as a small country,” said Griffin.
Read Next: IS BITCOIN ACTUALLY BAD FOR THE ENVIRONMENT?
Price Action: According to data from Benzinga Pro, BTC was trading at $38,400, up 0.46% in the last 24 hours.
