{"id":441008,"date":"2022-05-03T05:21:04","date_gmt":"2022-05-03T02:21:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/billionaire-citadel-securities-founder-compares-crypto-value-to-abstract-art\/"},"modified":"2022-05-03T05:21:04","modified_gmt":"2022-05-03T02:21:04","slug":"billionaire-citadel-securities-founder-compares-crypto-value-to-abstract-art","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/billionaire-citadel-securities-founder-compares-crypto-value-to-abstract-art\/","title":{"rendered":"# Billionaire Citadel Securities founder compares crypto value to abstract art"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35846f57e29\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35846f57e29\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/billionaire-citadel-securities-founder-compares-crypto-value-to-abstract-art\/#%E2%80%9D_Billionaire_Citadel_Securities_founder_compares_crypto_value_to_abstract_art_%E2%80%9C\" >&#8221; Billionaire Citadel Securities founder compares crypto value to abstract art  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Billionaire_Citadel_Securities_founder_compares_crypto_value_to_abstract_art_%E2%80%9C\"><\/span>&#8221; Billionaire Citadel Securities founder compares crypto value to abstract art  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMWM0OGUzNDItZmI0NS00MDVjLTk5MjMtMzIxMWY1YjAxZDdkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Billionaire Citadel Securities founder Ken Griffin has compared cryptocurrency to abstract art, opining that the value of both is derived from the eye of the beholder. <\/p>\n<p>Griffin \u2014 who Forbes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/profile\/ken-griffin\/?list=rtb\/\">estimates<\/a> to be worth around $26 billion \u2014 has made numerous anti-crypto comments and urged others away from it in the past, but <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have gradually softened his stance over time. He also said that Citadel will make a play once it can do so in a compliant manner. <\/p>\n<p>Speaking on the value of crypto at the Milken Institute Global Conference in Los Angeles on May 2, Griffin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/chasewithorn\/2022\/05\/02\/billionaire-gop-megadonor-ken-griffin-i-dont-appreciate-governor-desantis-going-after-disneys-tax-status\/?sh=52fcf99e31c6\">drew<\/a> comparisons with his collection of \u201cAmerican abstract art&#8221;, noting that: <\/p>\n<blockquote><p>&#8220;Why is a painting worth $10 million? It&#8217;s oil on canvas. So value is in the eyes of the beholder.&#8221;<\/p><\/blockquote>\n<p>While he may never become a full-blown proponent, Griffin appears to be at least happy to sit on the fence on a personal level as his market-making firm works to roll out crypto services. <\/p>\n<p>In that regard, he also noted that \u201cthe institutional increase in interest in cryptocurrency,\u201d helped sway the firm, and may see it provide \u201cliquidity to institutional, and potentially retail, investors.\u201d<\/p>\n<blockquote><p>\u201cI have to live with the reality that an asset\u2019s worth what people perceive it to be worth.\u201d<\/p><\/blockquote>\n<p>In terms of Citadel\u2019s views on crypto, Griffin said it was a \u201cgreat hotspot topic of debate\u201d and suggested that the younger portion of his colleagues are the ones pushing for the company to make a play: <\/p>\n<blockquote><p>\u201cAll my colleagues who are younger than I am, probably think I\u2019m a dinosaur on this issue. They\u2019re big believers. They believe that cryptocurrency has an important role in the global economy as a means of facilitating payment in a web3 world.\u201d<\/p><\/blockquote>\n<p>Still, Griffin outlined that the company will take its time to conduct due diligence before making any official moves, as he paid particular focus to the supposed threat of North Korea.<\/p>\n<p>Griffin in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> has held highly skeptical views towards the crypto sector, going as far as to describe Bitcoin (BTC) as a \u201cjihadist call\u201d against the U.S. dollar back in October. <\/p>\n<p>However, he did also outline that he sees blockchain as \u201creally interesting <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>,\u201d despite failing to see its value and argued that Ethereum-based tokens could one day replace BTC as the top dogs in crypto. <\/p>\n<p>In March, he even admitted that it was a mistake to be in the \u201cnaysayer camp\u201d given the total market cap of crypto sat at around $2 trillion at the time, and noted that Citadel could soon make a plunge into the sector. <\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Buffett back bashing Bitcoin, claims it \u2018doesn\u2019t produce anything\u2019<\/em><\/strong><\/p>\n<p>Despite his relatively neutral comments on this latest occasion, the billionaire did however manage to squeeze in a fairly critical dig at crypto. Griffin argued that it&#8217;s easy for him to see how firms such as Amazon and Apple have been able to benefit the user with their services and products, but can\u2019t say the same for Bitcoin. <\/p>\n<p>\u201cThese are businesses that have really, clearly changed the world for the better. I\u2019m still looking for that story of how crypto has made the world so much better. I\u2019m looking at stories about how Bitcoin consumes as much power as a small country,\u201d he said. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/billionaire-citadel-securities-founder-compares-crypto-value-to-abstract-art\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Billionaire Citadel Securities founder compares crypto value to abstract art &#8220; Billionaire Citadel Securities founder Ken Griffin has compared cryptocurrency to abstract art, opining that the value of both is derived from the eye of the beholder. Griffin \u2014 who Forbes estimates to be worth around $26 billion \u2014 has made numerous anti-crypto comments&#8230;<\/p>\n","protected":false},"author":1,"featured_media":441009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMWM0OGUzNDItZmI0NS00MDVjLTk5MjMtMzIxMWY1YjAxZDdkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[80225,116,117,70360],"class_list":["post-441008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-value","tag-art","tag-business","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=441008"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/441009"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=441008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=441008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=441008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}