Steve Eisman: Cryptocurrencies Are Useless

May 15, 2018

Prominent American investor and Frontpoint Partners hedge fund manager Steve Eisman has made a slashing criticism of cryptocurrencies, as The Wall Street Journal informs.

Eisman is known for predicting 2007 mortgage meltdown in the US and making a fortune on going short for bond rate. While delivering his speech at the annual CFA Institute conference held on May 13-16 in Hong Kong, Eisman criticized sharply cryptocurrencies and sounded quite skeptical about them:

“I don't see the purpose of it. What value does cryptocurrency actually add? No one's been able to answer that question for me.”

The investor added, the primary causes for their rates growing must be speculations and money laundering.

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