Who is Bill Ackman?
Bill Ackman is an American investor, hedge fund manager, and philanthropist. He is the founder and CEO of Pershing Square Capital Management, a hedge fund with over $20 billion in assets under management. He believes that cryptocurrency is here to stay as long as proper regulation is provided.
Ackman is widely known for his activism in corporate governance, investing heavily in companies he believes are undervalued or mismanaged and then pushing for boardroom changes to unlock shareholder value.
|Crypto Opinion||👍 "Crypto is here to stay"|
|Crypto Projects||Dimo, Origyn, Goldfinch Finance|
|Profession||Investor, Hedge Fund Manager, and Philanthropist|
|Country of Residence||United States|
|Companies Owned||Pershing Square Capital Management|
Cryptocurrency Tweets & Opinions
After the recent fallout of FTX, Bill Ackman shared his thoughts on cryptocurrency, giving it a much-needed boost in the process. It came from a series of tweets, headlining that "crypto is here to stay." A bold statement to make, considering the volatility of the market.
Ackman backed up his opinion with a few key points. First, he said crypto can build intrinsic value over time. He highlighted Helium as an example. As mentioned above, Helium, in layman's terms, is a decentralized global Wi-Fi network powered by blockchain.
In order to use the network, customers must purchase and burn the project's token, HNT, removing the "consumed" tokens from the total supply. As a result, a two-sided market for HNT is created, which creates an intrinsic value for the token.
Second, Ackman believes that despite the market volatility, cryptocurrency is still attractive to investors. It appeals to those who appreciate the potential of what it can become in the future. He states that while Bitcoin price may fluctuate, people should not forget its value as a store of value and medium of exchange.
He added that, with the proper oversight, cryptocurrency could provide societal benefits that are not possible with traditional financial systems.
Finally, Ackman believes legitimate crypto projects should be incentivized while frauds should be punished. He believes that having a strong regulatory framework will help protect investors and make the industry more attractive to mainstream audiences.
It is clear that Bill Ackman has a lot of faith in cryptocurrency, even after the recent market downturn and fallout from one of the biggest platforms (FTX). His opinion carries weight and gives insight into what investors should look for when investing in crypto assets. With his words, he reassures us that crypto is here to stay and its potential can be unlocked with proper oversight from authorities and regulators alike.
How is Bill Ackman Tied to The Crypto Industry?
Bill Ackman was initially skeptical of the value of cryptocurrencies. Still, after examining a number of promising projects, he now believes that they can enable the creation of new businesses and technologies that were previously impossible.
Bill Ackman recently praised the technology behind the decentralized Wi-Fi network Helium, calling it promising.
Helium is a decentralized Wi-Fi network that allows devices to connect to the internet wirelessly and can be used for geolocation. Helium is basically like a Wi-Fi cell tower, but instead of being owned by a company, it is owned by its users.
However, before this, Ackman was not a fan of the adoption of blockchain technology.
Last May, Ackman said that Terra (stablecoin) sounded like a crypto version of a pyramid scheme. This is because it uses a three-tiered system of rewards to incentivize users and token holders. He called out the crypto industry to "self-regulate" those projects without an underlying business model.
It's understandable that Ackman has a critical eye for the industry, as he is an investor and partner in hedge fund Pershing Square Capital Management, which holds significant investments in both traditional stocks and other assets.
But in a series of tweets recently, he revealed that he is a "small direct" investor in projects such as Dimo, Origyn, and Goldfinch Finance.
DIMO is a web3 IoT platform that allows automobile drivers to stream their vehicle data in exchange for rewards. Origyn is a blockchain-based platform that enables users to create and monetize their own digital products or services. Goldfinch Finance is an open protocol for decentralized derivatives trading by leveraging on-chain liquidity pools.
Ackman's involvement in these projects reflects his broader vision of the potential of the crypto industry, which has come full circle from his initial skepticism to now being actively involved in its development.
Moreover, he believes that this technology can be used to build businesses and technologies not thought possible before. He also supports mainstream adoption through self-regulation and transparency within the industry, which will ultimately benefit investors and users alike.
- Bill Ackman is the founder and CEO of Pershing Square Capital Management
- He is known for his short-selling of MBIA and his rescue of General Growth
- He had successful activist wins by partnering with, acquiring large shares, and consequently taking over companies such as Canadian Pacific, Fortune Brands, and Allergan.
- In March 2020, he made a significant profit on credit hedges during the Covid-19 market downturn
- He acquired a $1.1 billion stake in Netflix
Bill Ackman News
- Bill Ackman Endorses Crypto Project Helium, Discloses Crypto Holdings
- Billionaire Bill Ackman Does U-Turn on Crypto, Becomes 'Small Direct Investor'
- Elon Musk, Bill Ackman take aim at FTX's Sam Bankman-Fried: 8 top quotes
- Billionaire Bill Ackman Discusses Crypto Regulation — Says Industry Must Self-Police or Risks Being Shut Down
- Billionaire Bill Ackman and Kevin O’Leary think FTX’s Sam Bankman-Fried is telling ‘the truth’ about being unaware of major problems at his failed crypto exchange
- Bill Ackman Says Crypto Will Remain 'A Sport For Hobbyists' Until Custody Issue Is Fixed
- Bill Ackman Tweets: I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created
- Bill Ackman Tweets: Helium (HNT) provides intrinsic value
- Bill Ackman Tweets: I believe Sam Bankman-Fried