Yale economist Aleh Tsyvinski, who has taught economics at the prestigious Yale university for many years, has said that every investor who believes bitcoin can perform as…
“I don’t have a single portfolio manager who has told me we should buy crypto, not a single portfolio manager…And in our market making business we’ve debated whether or not ot make markets in cryptocurrencies and I have a hard time fiding myself wanting to be in the position of being a liquidity provider for a product that I don’t believe in.”Adding that he sees no function to cryptocurrencies at all:
“What people don’t understand with cryptocurrenices vs for example the USD, you have to have USD to pay your taxes at the end of the year…you don’t have a choice – there’s no need for crypotcurrencies – they’re a solution in search of a problem from my perspective.”
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