![\"Billionaire](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/06\/seth-klarman.jpg\")
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Billionaire investor Seth Klarman says he cannot see the point of crypto. \u201cI don\u2019t think anybody needs to own it. It just seems to me that it could end up very much in tears,\u201d he added. American billionaire investor and hedge fund manager Seth Klarman shared<\/a> his views on a variety of topics, including cryptocurrency, gold, and the U.S. dollar, in an interview with Harvard Business School, released this week.<\/p>\n Klarman is the chief executive and portfolio manager of the Baupost Group, a Boston-based hedge fund he co-founded in 1982. The investment firm currently has about $30 billion under management. According to Forbes, his estimated net worth is $1.5 billion.<\/p>\n On the topic of cryptocurrency, Klarman said:<\/p>\n I can\u2019t see the point of crypto. It has this feel to me of being like catnip for techies.<\/p>\n<\/blockquote>\n \u201cThe idea that we\u2019re using more energy than the country of Iceland, to mine extra crypto, to solve math problems that don\u2019t need to be solved, seems crazy to me,\u201d he added.<\/p>\n \u201cWhy do people need 10 or 50 different cryptocurrencies? I don\u2019t get it,\u201d the billionaire investor continued, emphasizing:<\/p>\n I don\u2019t think anybody needs to own it. It just seems to me that it could end up very much in tears.<\/p>\n<\/blockquote>\n In contrast, Klarman said: \u201cI\u2019m a fan of gold. I think gold\u2019s valuable in a crisis.\u201d<\/p>\n The Baupost Group boss also commented on the U.S. dollar. \u201cThe U.S. has had an enormous advantage of the dollar being the world\u2019s reserve currency for a very long time. It\u2019s unlikely to change anytime soon.\u201d he opined.<\/p>\n Noting that \u201cIt\u2019s hard to imagine people accepting Chinese currency,\u201d the billionaire also said:<\/p>\n It\u2019s hard to imagine people accepting cryptocurrency. There are just too many uncertainties.<\/p>\n<\/blockquote>\n Klarman has long been a crypto skeptic. He previously compared bitcoin to trading sardines<\/a>.<\/p>\n The Baupost Group chief is a proponent of value investing, the strategy championed by legendary investors such as Warren Buffett and Benjamin Graham. Klarman has been dubbed \u201cthe next Warren Buffett\u201d and \u201cthe Oracle of Boston.\u201d<\/p>\n Buffett also does not see value in bitcoin and cryptocurrency. He previously said bitcoin was \u201cprobably rat poison squared.\u201d In May, he said he wouldn\u2019t pay $25<\/a> for all the bitcoin in the world.<\/p>\n
<\/strong><\/p>\nSeth Klarman on Crypto Investing, Gold, and U.S. Dollar<\/h2>\n
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