December 5, 2022

Bill Ekman: "Cryptocurrencies can bring huge benefits"

Article reading time:
1 min.

Bill Ekman: "Cryptocurrencies can bring huge benefits"

Pershing Square Capital Management founder and CEO Bill Ekman is positive about the future of the cryptocurrency industry, and even the collapse of the FTX exchange did not change his mind.

Billionaire, investor and CEOBill Ackman, an American hedge fund management company, said he believes in the ability of cryptocurrencies to "bring great benefits to the public." At the same time, it is necessary that the industry continue to get rid of scammers and bad businessmen.

“Initially, I was a cryptocurrency skeptic, butthen studied some of the most interesting projects. I came to the conclusion that cryptocurrencies can help create useful businesses and technologies. I think cryptocurrencies are here to stay and, with proper regulation, this industry can bring huge benefits to society and develop the global economy,” Ekman said.

He added that all conscientious participantsindustries should be interested in identifying and eliminating fraudulent schemes, as such companies greatly increase the risk of regulatory harsh action. Ekman said that he has invested in several crypto projects. However, the share of investments does not exceed 2% of its total portfolio.

At the beginning of the year, Bill Ekman called on the New York authorities to remove existing barriers to the development of the cryptocurrency industry.