Billionaire Citadel Securities founder Ken Griffin has compared cryptocurrency to abstract art, opining that the value of both is derived from the eye of the beholder.
Griffin — who Forbes estimates to be worth around $26 billion — has made numerous anti-crypto comments and urged others away from it in the past, but appears to have gradually softened his stance over time. He also said that Citadel will make a play once it can do so in a compliant manner.
Speaking on the value of crypto at the Milken Institute Global Conference in Los Angeles on May 2, Griffin drew comparisons with his collection of “American abstract art”, noting that:
“Why is a painting worth $10 million? It’s oil on canvas. So value is in