Leon Cooperman admitted that he still does not understand the technology of the first cryptocurrency, therefore he considers gold to be the best asset for storing value.
American billionaire and investor Leon Cooperman (Forbes estimates his fortune at $ 2.5 billion) in an interview with CNBC admitted that he still does not understand Bitcoin, despite the fact that the cryptocurrency has grown by more than 7,600% over the past five years.
Cooperman urged those who, like him, are poorly versed in the matter, to exercise caution when investing in cryptocurrency.
"If you don't understand #bitcoin, it means you're old. I'm 78. I'm old. I don't understand it," says Lee Cooperman. "I'd be very careful with #btc. It does not make a great deal of sense, and if you are nervous about the world gold to me would a better place to store value." pic.twitter.com/OANWHHjpWx
— Squawk Box (@SquawkCNBC) September 9, 2021
“If you don’t understand Bitcoin, it means you are old.
I am 78 years old. I am old. I do not understand this. I would be very careful with BTC, ”said Cooperman.
Leon “Lee” Cooperman is the CEO of the hedge fund Omega Advisors, which manages $ 3.3 billion in assets.
For those who do not consider themselves to be a cryptocurrency expert, investing in gold is more suitable, according to Cooperman.
In early September, Massachusetts Senator Elizabeth Warren called cryptocurrency a new shadow bank.
According to Warren, digital services offer credit products to users without guaranteeing them protection and stability. Whereas the traditional financial system is based on the fulfillment of exactly these conditions, the senator added.
