Bitcoin does not make a great deal of sense, according to billionaire Lee Cooperman

Bitcoin does not make a great deal of sense, according to billionaire Lee Cooperman


By his own admission, Lee Cooperman still does not understand Bitcoin, despite BTC being up more than 300% since early December 2017.

Speaking to CNBC on Thursday, the billionaire investor alluded to people his age having a hard time understanding Bitcoin, adding:

“I’d be very careful with Bitcoin; I don’t think it makes a great deal of sense and if you are nervous about the world gold to me would be a better place to store value.”

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Cooperman’s statements on Thursday are in keeping with previous comments about Bitcoin. Back in December 2017 when BTC was on a bullish price advance, Cooperman expressed his confusion about BTC.

Earlier in 2021, Cooperman stated in an interview with Bloomberg surveillance: On NFTs, bitcoin, stuff like that – I’m too old. I don’t understand that stuff, it’s crazy to me, it makes no sense. I’m a meat-and-potatoes guy, a stocks guy.”

The Omega Advisors chairman also seemingly cast doubts on whether Bitcoin could become a global currency

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