“I’m on the bubble side, on net. To move me off that, you really need not a price change, but a use case,” Asness said of bitcoin.
Cliff Asness, co-founder of AQR Capital Management, believes bitcoin is in a speculative bubble after the cryptocurrency's swift rally carried it above $100,000 following the November presidential election.
Cliff Asness, co-founder of AQR Capital Management, believes bitcoin is in a speculative bubble after the cryptocurrency's swift rally carried it above $100,000 following the November presidential election." on Monday."To move me off that, you really need not a price change, but a use case. That's what could convince me to become maybe more of a crypto person when I find any use for it, aside from speculation and criminality.
"There's no fundamental trend for crypto because I don't know what the fundamentals are, but there is a price trend," Asness said."So I would guess most trend followers who have it in their universe are actually long.""I wouldn't short crypto only because shorting things with 100% annual volatility can be a little scary. I think we've all discovered what concentrated shorts can do to a portfolio," he added.
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