Wall Street tycoon: Bitcoin’s explosion is unimaginable

The changing attitude of Wall Street hedgers

March 10, 2024 , Bill Ackman, founder and CEO of Pershing Square Capital Management, said when talking about Bitcoin on the X platform:

"The rise in Bitcoin prices has led to increased mining and increased energy usage, pushing up energy costs, leading to increased inflation and The dollar depreciates, which drives increased demand for Bitcoin and mining, which drives energy demand, and so on."

"As a result, the price of Bitcoin will reach infinite heights, soaring far beyond anyone’s imagination”

Ackman concluded: “ Maybe I should buy some Bitcoin”.

Compared to 3 years ago, Bill Ackman's attitude has undergone a fundamental change. On May 27, 2021, Bill Ackman was not optimistic about Bitcoin.

He will not invest in Bitcoin because it is purely a speculative product. Bill Ackman said that he is learning about cryptocurrency because it is an interesting phenomenon, but he has not invested in any cryptocurrency.

William Albert Ackman is an American billionaire hedge fund manager who has an important influence in the financial world. His change of attitude has great implications for Bitcoin. Significance.

He is not only the founder of the hedge fund management company Pershing Square Capital Management, but also the company's CEO.

Ackman is known for his proactive investing style and is considered an activist investor in financial markets. His investment strategies and hedge fund management abilities have made him an important figure in the financial world.

The legend of the top student

Ackman was born in 1966 May 11, grew up in New York. His father is the former chairman of Ackman-Ziff Real Estate Group, a New York real estate financing company.

Ackman graduated magna cum laude from Harvard University in 1988 with a bachelor's degree in social studies. In 1992, he received his MBA from Harvard Business School.

Ackman's career began in 1992 when he co-founded the investment firm Gotham Partners with Harvard classmate David P. Berkowitz. Initially, it was mainly public companies with small investments.

Three years later, Gotham's assets under management reached $500 million. By 2002, Gotham was in trouble due to litigation with outside shareholders of its investment companies. Ackman is also known for his research on MBIA Corporation, which he made huge profits by shorting MBIA corporate bonds during the 2007-2008 financial crisis.

Ackman's investment philosophy is based on in-depth research and analysis. He often conducts comprehensive due diligence on target companies and then takes actions to increase the company's value. This approach has sometimes led to conflicts with company management, but Ackman firmly believes it is in the best interests of shareholders. His strategy has aroused widespread discussion in the investment community. Some people praise him for creating huge value for investors, while others criticize his method for being too radical.

As of now, Forbes estimates Ackman’s net worth at $4 billion. His success and influence are testament to his outstanding talent and firm belief in the field of financial investment. Ackman continues to play an important role in global financial markets.

Entering Web3

Although the above Mentioned that Ackman was once a skeptic of Bitcoin, but his attitude soon changed.

On November 21, 2022, hedge fund manager Bill Ackman stated on his social platform that he used to be an encryption skeptic, but after After studying some of the more interesting encryption projects, I believe that encryption technology can create unprecedented businesses and technologies.

He said that although most cryptocurrencies currently promote fraud, he believes that with reasonable regulation and supervision, encryption technology will have a beneficial social impact. potential,and may eventually have the same level of social impact as the telephone and the Internet.

Then, Web3 venture capital fund OP Ventures Fund I announced the completion of a round of financing of US$50 million, managed byBill Ackman Hedge fund Pershing Square is one of its early investors. Other investors include Solana co-founder Raj Gokal, Polygon co-founder Sandeep Nailwal, and mobile game publisher Animoca Brands.

On March 26, 2023, Bill Ackman recently commented on Twitter about the current banking crisis caused by the collapse of major banks including Silicon Valley Bank and Signature Bank: "Think about recent events that are of non-systemic importance. Let’s consider the impact of the bank’s long-term equity capital cost.In these banks, as a shareholder or bondholder, you may wake up one day and suddenly find that your investment has gone to zero.”

This may be one of the reasons why Bill Ackman changed his attitude towards Bitcoin this year.

On January 16, 2024, Bill Ackman's Table Management participated in a start-up focusing on decentralized physical infrastructure networks. Company Digital Infrastructure, which completed an $11.5 million Series A round of financing.

On March 10, 2024, as mentioned above, Bill Ackman talked about the possible price of the world's largest cryptocurrency BTC on the X platform would surge to levels far beyond anyone’s imagination and say “maybe I should buy some Bitcoin.”

Write at the end

In Finance Among the huge waves in the world, Bill Ackman's change of attitude is particularly eye-catching.

From being skeptical about Bitcoin to considering investing and believing that Bitcoin’s value will be infinite, the Wall Street hedge fund giant seems to be Reassessing the potential and impact of cryptocurrencies.

Looking forward, as technology advances and the regulatory environment matures, we may see more financial experts and investors turn to crypto currency.

It can be said that Ackman’s change of attitude may herald the beginning of a new era, an era in which digital assets are widely accepted and integrated into the global economic system. .

With the change of attitude of financial leaders like Ackman, we may be able to look forward to the arrival of a more mature and stable cryptocurrency ecosystem.