CNBC Television
@CNBCtelevision·3.4M subscribers·157.5K videos
Hedge Fund Billionaire Griffin Knocks Bitcoin
Posted
July 18, 2018
Views
10,309
Likes
102
Comments
137
Engagement
2.32%
July 18, 2018
10,309
102
137
2.32%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
1:05Now PlayingCitadel's Ken Griffin is not a fan of digital currencies and bitcoin. "I don’t have a single portfolio manager [of mine] who has told me we should buy bitcoin, not a single portfolio manager," he said at the Delivering Alpha Conference in New York on Wednesday. "I have a hard time finding myself wanting to be in a position for being a liquidity provider for a product I don’t believe in."
The investor said he wishes the younger generation would focus on more productive activities than invest in digital currencies.
"I still scratch my head" about bitcoin, he added.
Griffin founded Citadel in 1990. The investor has a net worth of $9 billion, according to Forbes. His hedge fund firm now manages more than $30 billion in assets. Also in its role as a market maker, one out of every five US stocks trade through Citadel Securities on a daily basis, Griffin confirmed.
The firm’s multistrategy fund, known as Wellington, was up 1.52 percent in June and 8.79 percent during the first half of the year.
» Subscribe to CNBC
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news
Find CNBC News on Facebook
Follow CNBC News on Twitter
Follow CNBC News on Google+
Follow CNBC News on Instagram
Hedge Fund Billionaire Griffin Knocks Bitcoin | CNBC
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
