Bill Ackman Backs Crypto Project Helium & Reveal Crypto Holdings
- Helium can accrue inherent worth over time, according to Ackman.
- Crypto firms and related companies make for less than 2% of Ackman’s investments.
According to the CEO of Pershing Square Capital Management, the contested cryptocurrency project Helium can gain intrinsic value over time. Billionaire investor and hedge fund manager Bill Ackman is bullish on cryptocurrencies, despite the collapse of one of the world’s top crypto exchanges. According to one of Tradefi’s most well-known investors.
Ackman said on Sunday’s Tweet thread that
“I was a crypto at first, but after analyzing some of the most fascinating crypto projects, I’ve come to feel that crypto can enable the establishment of valuable businesses and technologies that could not previously exist.”
Ackman’s Perspective On Crypto And Helium Highlights
He also stated that he believes crypto can tremendously assist society as long as the market eliminates undesirable operators. He lauded the industry after the FTX declared bankruptcy. The failed corporation was once valued at $32 billion and has spread panic throughout the sector.
And he contends that crypto is here to stay and that with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy. He believes that all genuine participants in the crypto ecosystem should be highly encouraged to expose and remove fraudulent entities. As they greatly increase the risk of regulatory action that will set back the positive potential impact of crypto for generations.
In the thread, Ackman praised Helium, a blockchain-based network, as having a favorable effect on crypto. He also tweeted that Helium built a worldwide Wi-Fi network that LimeBike and others use to track devices around the world. As well as for other uses that benefit from the availability of global Wi-Fi networks.
The billionaire correctly noted that Lime, a scooter and bike-sharing firm, is a client of Helium, which Lime contradicts. Lime’s symbol was taken off Helium’s website late this year.
Ackman invests extensively in various crypto initiatives, venture capital funds, and companies that reduce crypto abuse, which he claims represent much less than 2% of his assets.