Citadel founder turned his attention to cryptocurrency markets

Ken Griffin believes that Ethereum-based assets will eventually replace Bitcoin

02.03.2022 - 12:35

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1 min

What’s new? Citadel, a US multinational hedge fund and financial services firm, intends to enter the cryptocurrency markets this year. Citadel founder Ken Griffin spoke on Bloomberg Wealth and commented on the current state of the markets. He stated that in light of recent geopolitical conflicts, they are at a “very volatile inflection point.”

Interview on Bloomberg Wealth

What is Griffin’s position? When the interview turned to digital assets, Griffin, who has previously warned the younger generation against them, said that the company will participate in the crypto-asset markets this year.

Back in November 2021, Griffin was skeptical about cryptocurrencies. However, the billionaire investor did state that Ethereum-based assets will eventually replace Bitcoin, which has a greater impact on the environment. He added:

“It’s fair to assume that over the months to come, you will see us engage in making markets in cryptocurrencies. And I’ll be clear, I’ve been in the naysayer camp over that period of time. But the crypto market today has a market capitalization of about $2 trillion in round numbers, which tells you that I haven’t been right on this call.”

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