Billionaire Lee Cooperman claims Bitcoin doesn’t make any sense.

Bitcoin does not make a great deal of sense, according to billionaire Lee Cooperman

By his own admission, Lee Cooperman still does not understand Bitcoin (BTC), despite its being up more than 300% since early December 2017.
Speaking to CNBC on Thursday, the billionaire investor alluded to people his age having a hard time understanding Bitcoin, adding:

“I’d be very careful with Bitcoin; I don’t think it makes a great deal of sense and if you are nervous about the world, gold — to me — would be a better place to store value.”

Cooperman’s statements on Thursday are in keeping with previous comments about Bitcoin. Back in December 2017 when BTC was on a bullish price advance, Cooperman expressed his confusion about BTC.
Earlier in 2021, Cooperman stated in an interview with Bloomberg surveillance that “On NFTs, bitcoin, stuff like that — I’m too old. I don’t understand that stuff. It’s crazy to me. It makes no sense. I’m a meat-and-potatoes guy, a stocks guy.”
The Omega Advisors chairman also seemingly cast doubts on whether Bitcoin could become a global currency, stating that it was not in the interest of the United States to promote an alternative to the U.S. dollar.

He’s right.

He is too old.

That’s all for today.

Pour Conclure

*TL;DR — *Old man with billions says crypto doesn’t make any sense.

But it does.

Until next time, friends.

Your Pal,

The Gopher

Disclaimer: None of this is to be deemed legal or financial advice in any way, shape, or form. You are reading opinions from an anonymous news publisher in Cartoon Gopher Format.

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