The hedge fund CEO and founder of Citadel today spoke with CNBC and announced that he sees signs of the bitcoin bubble happening.
Speaking to CNBC he says:
“Bitcoin right now has many of the elements of the tulip bulb mania we saw back hundreds of years ago in Holland,” he said in an interview on financial news channel CNBC. “I think what is happening is people confuse bitcoin with blockchain.”
“I get very worried that people that are buying bitcoins don’t really understand what they’re participating in other than the headline stories that it keeps going higher and ‘I want to make sure I don’t miss this opportunity to make some money,'” Griffin said. “So is it a fraud? No. But these bubbles tend to end in tears. And I worry about how this bubble might end.”
What do you think? Do you think the Bitcoin Bubble will happen?