Billionaire and hedge fund manager Bill Ackman revealed his crypto investments and explained why his views on crypto changed. Ackman, whose net worth is estimated at $2.8 billion by Forbes, detailed his views on crypto in a Twitter thread.
The founder and CEO of Pershing Square Capital Management said that he was initially a crypto skeptic. His skepticism was largely due to the fact that crypto can facilitate scams.
However, “after studying some of the more interesting crypto projects,” Ackman said that he believes crypto could be useful.
"I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created," Ackman said.
"The ability to issue a token to incentivize participants in a venture is a powerful lever in accessing a global workforce to advance a project," he continued.
Ackman acknowledged that there are problems with crypto,…
