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Bloomberg

Ken Griffin, founder of the US$27 billion hedge fund Citadel, said the bitcoin frenzy resembles Holland’s tulip mania centuries ago.
“Is bitcoin a fraud? No,” Griffin said in an interview on Monday. “But these bubbles tend to end in tears, and I worry about how this bubble might end.”

The leader of the Chicago-based firm, which makes its money from stock picking and quantitative strategies, said that valuations in the overall market were more stretched now than is typical, driven by low interest rates, low inflation and reasonable growth in revenues.
“We’re in the seventh inning of this market rally,” he said. “But it’s not in the classic mania of a bull market.”
Bubble or breakthrough? Bitcoin keeps central bankers on edge
Griffin said that while tax reform for individuals is well thought-out by Congress, lawmakers may be driving the corporate tax rate too low.
“I would have thought we would have landed it somewhere around 25 per cent for our corporate rate, not 20,” he said. “But probably not worth splitting hairs over.”


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Bitcoin

Billionaire hedge fund founder of Citadel warns bitcoin ‘bubble’ may end in tears for investors

An employee uses a laptop computer branded with bitcoin logos inside the offices of a bank in France. Photo: Bloomberg

FILE: A gold colored bitcoin token sits on display under a glass cloche inside the offices of La Maison du Bitcoin bank in Paris, France, on Thursday, Nov. 23, 2017. Bitcoin is showing no signs of slowing down, the price of the largest cryptocurrency by market value is soaring as it gains greater mainstream attention despite warnings of a bubble in what not everyone agrees is an asset. Our editors select the best archive images on Bitcoin. Photographer: Christophe Morin/Bloomberg

Billionaire hedge fund founder of Citadel warns bitcoin ‘bubble’ may end in tears for investors

Ken Griffin worries the bitcoin bubble could hit investors badly