{"id":462842,"date":"2022-06-14T21:56:12","date_gmt":"2022-06-14T18:56:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/billionaire-leon-cooperman-calls-cryptocurrency-crap\/"},"modified":"2022-06-14T21:56:12","modified_gmt":"2022-06-14T18:56:12","slug":"billionaire-leon-cooperman-calls-cryptocurrency-crap","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/billionaire-leon-cooperman-calls-cryptocurrency-crap\/","title":{"rendered":"#Billionaire Leon Cooperman calls cryptocurrency &#8216;crap&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a2ae6967127e\" 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-6a2ae6967127e\" 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-leon-cooperman-calls-cryptocurrency-crap\/#%E2%80%9CBillionaire_Leon_Cooperman_calls_cryptocurrency_%E2%80%98crap%E2%80%9D\" >&#8220;Billionaire Leon Cooperman calls cryptocurrency &#8216;crap&#8217;&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1>&#8220;Billionaire Leon Cooperman calls cryptocurrency &#8216;crap'&#8221;<\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Stocks still have further to fall, billionaire investor Leon Cooperman warned on Tuesday \u2014 adding that speculative assets such as SPAC deals, cryptocurrencies and NFTs are \u201ccrap\u201d and aren\u2019t likely to recover anytime soon.<\/p>\n<p>Cooperman, the chairman and CEO of Omega Advisors, said he sees the US economy falling into a recession in 2023 and a tumultuous period to come for investors \u2014 even after the S&amp;P 500 entered bear market territory.<\/p>\n<p>\u201cI\u2019m assuming by the time this is over, if we fall into a recession, that the market could have declined 40% of its peak,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/06\/14\/leon-cooperman-expects-2023-recession-says-bottom-is-not-in-yet.html\">Cooperman told CNBC<\/a>. \u201cThat\u2019s my basic modus operandi.\u201d<\/p>\n<p>The S&amp;P 500 closed in bear market territory on Monday and is down about 22% since the start of the year. Cooperman is predicting a decline of up to 40% from the S&amp;P 500\u2019s all-time high of <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>roximately 4,800, which was established in January.<\/p>\n<p>Cooperman also took aim at some assets, such as cryptocurrencies and non-fungible tokens, or NFTs, that have shown the most volatility during the market\u2019s recent downturn.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8220;It&#8217;s a bear market,&#8221; says Lee Cooperman. &#8220;We&#8217;ve gone through one of the most speculative periods I&#8217;m aware of: SPACs and all that kind of crap that was going on. Crypto, and NFTs\u2026I think it will be unlikely to go back into a bull market anytime soon.&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/w2wNmxAZwF\">pic.twitter.com\/w2wNmxAZwF<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1536691487005724673?ref_src=twsrc%5Etfw\">June 14, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>\u201cI believe we\u2019ve gone through one of the most speculative periods I\u2019m aware of \u2013 you know, SPACs, all that kind of crap that was going on. Crypto and non-fungible tokens and stuff like that. I think it would be unlikely to go back into a bull market anytime soon,\u201d Cooperman added.<\/p>\n<p>Leading cryptocurrencies plummeted this week, with the price of bitcoin briefly plunging below $21,000 for the first time since December 2020. The SPAC market has also cratered in recent months as investors shy away from riskier deals.<\/p>\n<p>Cooper noted surging oil prices, which topped $122 per barrel on Tuesday, as well as the Federal Reserve\u2019s move to tighten monetary policy in response to inflation as likely triggers for the recession.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Leon-Cooperman-51.jpg?w=1024\" alt=\"Leon Cooperman\" class=\"wp-image-22653687\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Leon-Cooperman-51.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Leon-Cooperman-51.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Leon-Cooperman-51.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Leon Cooperman said stocks are likely to stay under pressure for some time.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>The hedge fund legend said there was \u201ctoo much liquidity\u201d in the economy for a recession to occur this year.<\/p>\n<p>\u201cMy basic viewpoint is the 4,800 of the S&amp;P is likely to be the high for quite some time,\u201d Cooperman said.<\/p>\n<p>Investors are bracing for a potential recession by dumping riskier assets, including stocks and cryptocurrencies, as the Fed moves forward with interest rate hikes.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-84.jpg?w=1024\" alt=\"Worried NYSE trader\" class=\"wp-image-22653691\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-84.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-84.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/NYSE-traders-84.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Fed\u2019s plan to tighten policy has weighed on stocks.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The central bank is expected to hike its benchmark rate by as much as 1% at a meeting this week due to persistent inflation hammering American household budgets.<\/p>\n<p>Cooperman has an estimated fortune of $2.5 billion, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/profile\/leon-g-cooperman\/?sh=1de9daa818f7\">according to Forbes<\/a>.<\/p>\n<p>He is the latest Wall Street fixture to predict major trouble ahead for the US economy. JPMorgan Chase chief Jamie Dimon warned earlier this month of a looming economic \u201churricane\u201d for investors.\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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><\/p>\n<\/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\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/14\/billionaire-leon-cooperman-calls-cryptocurrency-crap\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Billionaire Leon Cooperman calls cryptocurrency &#8216;crap&#8217;&#8221; Stocks still have further to fall, billionaire investor Leon Cooperman warned on Tuesday \u2014 adding that speculative assets such as SPAC deals, cryptocurrencies and NFTs are \u201ccrap\u201d and aren\u2019t likely to recover anytime soon. Cooperman, the chairman and CEO of Omega Advisors, said he sees the US economy falling&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Leon-Cooperman-52.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[130298,70971,76127,5069,70551,78553,91261,80348,72388],"class_list":["post-462842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-14-22","tag-billionaires","tag-cryptocurrency","tag-economy","tag-inflation","tag-leon-cooperman","tag-recession","tag-sp-500","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462842","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=462842"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462843"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}