Hedge fund mogul Jim Chanos claimed Bitcoin was “masquerading as a technological breakthrough” in a new interview with Bloomberg June 4. Chanos said that in the event of a global crisis, it would be “better” to own food, or a government-backed (fiat) currency.
Speaking to the Institute for New Economic Thinking and quoted by various media outlets, Chanos, who last year stated he “didn’t understand” Bitcoin or blockchain technology, issued stark warnings about cryptocurrency investment.