Ken Griffin, founder of $27 billion hedge fund Citadel, said today’s bitcoin frenzy resembles Holland’s tulip mania centuries ago.
“Is bitcoin a fraud? No,” Griffin said in an interview Monday on CNBC. “But these bubbles tend to end in tears, and I worry about how this bubble might end.”
The leader of the Chicago-based firm, which makes its money from stock picking and quantitative strategies, said that valuations in the overall market were more stretched now than is typical, driven by low interest rates, low inflation and reasonable growth in revenues.