Billionaire hedge fund manager Ken Griffin says bitcoin has 'elements of the tulip bulb mania'

27.11.2017 / 19:06

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"Bitcoin right now has many of the elements of the tulip bulb mania we saw back hundreds of years ago in Holland.These bubbles tend to end in tears and I worry about how this bubble may end." said the billionaire hedge fund manager.

Griffin however said he does believe the blockchain technology backing the cryptocurrency is valid.

Bitcoin climbed more than $1,000 in a week to a record high of $9,732.76 Monday morning, according to CoinDesk. The digital currency has climbed 50 percent in November alone and now has a market value of about $161 billion

Source: Bloomberg Pro Terminal

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Billionaire hedge fund manager Ken Griffin says bitcoin has 'elements of the tulip bulb mania'

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