[2018-07-19] Billionaire Investor Says No One Wants to Buy Bitcoin

[BitcoinArsenal]

Ken Griffin, a billionaire hedge fund manager at Citadel, has said that not a single portfolio manager he knows is interested in the crypto market. Griffin said:
“I don’t have a single portfolio manager [of mine] who has told me we should buy crypto, not a single portfolio manager. I have a hard time finding myself wanting to be in the position of being a liquidity provider to a product that I don’t believe in. I still scratch my head about bitcoin.”
Full article on CCN

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[hatshepsut93]

This guy is really shooting himself in the foot, hedge fund managers should be open-minded and calculate risks and rewards instead of letting their own feelings drive their decisions (which is something that regular investors might do). It's okay to be skeptic about Bitcoin, there are some scenarios when it can fail, but it's dumb to deny the possibility of it succeeding, because it has already shown that it is very stable and robust, people are already using it as money, so it's not some vaporware, and it still has lots of potential for improvement.

[Kemarit]

Wait till his investors clients pressured him to look at bitcoin as a alternatives for them and I'm sure that he will make a complete U-turn. Its his personal belief and not the overall sentiments of his clients. There might be a time that other hedge funds are going into bitcoin so if he goes against it, he and his company will be left out in the closet and then at the end of the day heads will be rolling and I'm sure that this statement of his will be overturn by his superior at Citadel in the next couple of years.

[odolvlobo]

I don’t have a single portfolio manager [of mine] who has told me we should buy crypto, not a single portfolio manager.

I guess he hasn't figured out that all of his portfolio managers are brown-nosing ass-kissing yes-men.

[gentlemand]

I have a hard time finding myself wanting to be in the position of being a liquidity provider to a product that I don’t believe in. I still scratch my head about bitcoin.”

Seems fair enough to me. If you've spent your entire life mired in conventional markets you'd probably feel the same. There ain't no hurry and I've never really gotten why people get defensive when someone states where they're coming from and their point of view is perfectly understandable.

[1Referee]

People ignore one simple fact; when these corporate assholes start to talk trash, they are very likely accumulating Bitcoin.

It makes no sense at all to consider Bitcoin to be a top or relatively interesting investment from their position if they haven't got enough coins to ride the next rally. If you ever see them talk about Bitcoin being worth considering, then know that they have enough coins to sell you at top levels later on. It's nothing more than basic bla bla to fool dumb money.

Wall street for once hasn't been the first to enter something with this level of potential, we, the normal people did. They want you out and buy your coins at much lower levels. Don't sell Gold for copper.

[veleten]

when a diplomat says "maybe" its a no,when a hedge fund manager says we don't want to consider bitcoin as investment
read: we don't want the price to go up,but we will secretly buy or trade bitcoins
otherwise his traders are blind and plain ignoring the fact that no stock has shown returns of 10000% in a few year's time
to ignore that means total unprofessionalism,so it is a clear propaganda for the masses and a whitewash

[Oilacris]

People ignore one simple fact; when these corporate assholes start to talk trash, they are very likely accumulating Bitcoin.

It makes no sense at all to consider Bitcoin to be a top or relatively interesting investment from their position if they haven't got enough coins to ride the next rally. If you ever see them talk about Bitcoin being worth considering, then know that they have enough coins to sell you at top levels later on. It's nothing more than basic bla bla to fool dumb money.

Wall street for once hasn't been the first to enter something with this level of potential, we, the normal people did. They want you out and buy your coins at much lower levels. Don't sell Gold for copper.

This is what on my mind too on where if these people starts to trashtalk or do say things about bitcoin negatively then most likely that they do just secretly accumulating bitcoin and we can always presume that they do just do such thing for such agenda. We do have our own will to judge up things but for us believers we would definitely disagree on those people who do have different insight either its a legit comment or just an assuming or pretending person to hate it but doing underground motives.

[richardsNY]

It makes no sense at all to consider Bitcoin to be a top or relatively interesting investment from their position if they haven't got enough coins to ride the next rally. If you ever see them talk about Bitcoin being worth considering, then know that they have enough coins to sell you at top levels later on. It's nothing more than basic bla bla to fool dumb money.

JPM CEO Jamie Dimon is the perfect example of that. From hater to showing some interest in Bitcoin, to settle trades for clients, to being interested in offering crypto related custody solutions, etc. Goldman Sachs first stated they were working on a trading desk, then they said it wasn't the case, then suddenly Circle (backed by Goldman & JPM) acquired Poloniex. IIRC there was another financial institution that did a quick 360 but can't remember which one it was. Either way, with so much potential growth this market accounts for, there is no way these players will let a golden money making opportunity slip....

[aoluain]

"No one wants to buy crypto" is such a general factually incorrect statement its not funny.
There are a lot of peopke IMO waiting for the right sjgnal before they jump in.

If he is still scratching his head over bitcoin his opinions are worthless.

This is just more FUD mongering

[NeMa94]

I agree that this "general" statements are just ridiculous. So many investors, businessmen, and monopolists doubted that crypto market will last this long. So many of them have eaten their words up. I still don't get why people don't learn from others mistakes and just keep calm. Don't rush to say something that can turn right back into your face. Cryptocurrencies have a long way to go, but saying that "no one wants to buy bitcoin" is just digging a media grave 

[rlm42]

Of course, to say that he is mistaken is hard, everything is very subjective.
But depriving yourself of even a chance, guided by incomprehensible conclusions, will also be a mistake.
He definitely will bite elbows in the foreseeable future, in view of not having formed at least any cryptocurrency asset.

[danyakotletkin2018]

Ken Griffin, a billionaire hedge fund manager at Citadel, has said that not a single portfolio manager he knows is interested in the crypto market. Griffin said:
“I don’t have a single portfolio manager [of mine] who has told me we should buy crypto, not a single portfolio manager. I have a hard time finding myself wanting to be in the position of being a liquidity provider to a product that I don’t believe in. I still scratch my head about bitcoin.”
Full article on CCN

In order to sell the product, you must be with him, then people will believe you, and therefore will invest.

[Yurkov]

For me he is just making a big mistake and in future when situation on market will be more stable he will recognise that his moves were wrong.

[monocolor]

He may not buy or want to buy, it does not mean anything, there are plenty investors who buy Bitcoin, that's enough.