Bill Gross, a billionaire “Bondking,” is an investor. He claims that, in addition to profitably trading meme stocks, he is a tiny investor in Bitcoin. Bill Gross is a well-known bond investor who has been dubbed the “King of Bonds.” He was a co-founder of the Pacific Investment Management Company, or PIMCO. Despite his conflicting feelings about cryptocurrencies, the American investor and fund manager says he is experimenting in them.
Following this, billionaire Ken Griffin, one of the most outspoken skeptics of cryptocurrencies, appears to have altered his opinion on digital currencies. The CEO of investment firm Citadel, as well as a well-known hedge fund manager, conceded that he was not entirely correct in his crypto prediction.
Griffin earlier referred to cryptocurrencies as a “jihadist call” against the dollar, but this week declared that “crypto has been one of the biggest stories in finance over the last 15 years.”
Griffin, who has a net worth of $30.4 billion and is the world’s 40th richest person according to Bloomberg, remarked that while he isn’t “completely sold on crypto,” his Citadel investment business cannot ignore the field any longer.
Bitcoin’s price will rise due to institutional investors.
As previously reported, when asked what would drive the Bitcoin price up in 2022, Swiss Bank SEBA CEO Guido Buehler responded: “Institutional money will almost certainly drive up the price.”
He went on to say that his firm’s estimates predict Bitcoin would reach $75,000 by 2022. Bitcoin is currently trading at $41,460 as of press time, after rebounding from earlier lows of $40,800. Bitcoin is still down over 40% from its all-time high of $69,000 on November 10, 2021.
“We believe the price is rising; our internal valuation models predict a price of $50,000 to $75,000 right now, and I’m convinced we’ll see that level. The issue is always one of timing “According to the CEO.