Citadel's Ken Griffin Admits He Was Wrong About Crypto 14

Citadel’s Ken Griffin Admits He Was Wrong About Crypto

Quick take:

  • Billionaire founder of Citadel Securities has changed his mind about cryptocurrencies
  • Mr. Griffin admitted that he had not made the right call on crypto over the last 15 years
  • Citadel Securities is considering an offering of cryptocurrencies to institutions and investors

Ken Griffin, the Billionaire founder of Citadel Securities, has changed his mind about cryptocurrencies, admitting that he was wrong to say that they were a waste of time and effort.

Mr. Griffin revealed his change of heart towards cryptocurrencies in a Bloomberg interview where he said:

Crypto has been one of the great, great stories in finance over the course of roughly the last 15 years and, I’ll be clear, I’ve been in the naysayer camp over that 15 year period.

But the crypto markets today have a market capitalization of about $2 trillion in round numbers, which tells you that I haven’t been right on this call over the last 15 years.

He however pointed out that he still had some skepticism on the crypto industry but the hundreds of millions of users around the world would most likely disagree with him.

During the interview, Ken Griffin also gave hints that Citadel will begin offering cryptocurrencies to institutions and investors in the near future.

Back in October of last year, Mr. Griffin had trashed cryptocurrencies by stating that they were ‘a jihadist call’ against the United States dollar. Furthermore, he had suggested that the passion and energy focused on crypto would have a greater impact if it were directed towards making the United States of America, stronger.

A month later, Mr. Griffin also made headlines in the crypto industry after purchasing a first-edition copy of the United States constitution for $43.2 million. The same priceless document was on the radar of the ConstiutionDAO that had raised over $40 million to purchase it.