Billionaire investor and hedge fund manager Bill Ackman has announced that he continues to think positively about cryptocurrencies even after FTX, one of the world’s largest cryptocurrency exchanges, filed for bankruptcy. Ackman explained that he continues to think positively about cryptocurrencies even after FTX, one of the world’s largest cryptocurrency exchanges, filed for bankruptcy.
Bill Ackman used the following statements in a series of tweets he posted on his personal Twitter account on November 20:
“I was initially skeptical of cryptocurrencies, but after examining some of the more interesting crypto projects, I came to believe that crypto could enable the creation of useful businesses and technologies that could not be created before.”
Ackman, founder and CEO of Pershing Square Capital Management, said that he believes cryptocurrencies have the potential to “mainly benefit society” as long as the industry eliminates bad actors. Ackman’s praise for the technology of cryptocurrencies came after cryptocurrency exchange FTX filed for bankruptcy protection. The troubled firm was once worth $32 billion and has created fears of contagion in the industry.
Ackman also dropped the following note on his statements on social media.
“I think cryptocurrencies have the potential to greatly benefit society and grow the global economy with permanent and appropriate oversight and regulation,” while taking his praise of the cryptocurrency ecosystem one step further, “Therefore, all legitimate participants in the cryptocurrency ecosystem should acknowledge the positive potential impact of cryptocurrencies over generations. should be encouraged to expose and eliminate fraudulent actors, as they greatly increase the risk of regulatory interference that will lead them back.”
It was noteworthy that Ackman, who made extremely positive evaluations for cryptocurrencies in his tweet series, pointed to a blockchain-based network Helium (HNT) as a positive crypto money project.
“Helium has created a global Wi-Fi network that is used by Lime Bike and others to monitor devices globally and for other uses that leverage access to global Wi-Fi networks.”
At this point, it did not go unnoticed that the famous billionaire mistakenly pointed to Helium’s scooter and bike sharing company Lime as a customer of Helium. Lime has recently objected to such claims, and it was seen that Helium removed Lime’s logo from its website.