Investor Cliff Asness says bitcoin is a bubble unless uses besides speculation and criminality emerge

Key Points

Cliff Asness, co-founder of AQR Capital Management, believes bitcoin is in a speculative bubble after the cryptocurrency’s swift rally carried it above $100,000 following the November presidential election.
Asness said there are three uses for crypto that he has identified: speculation, use in war-torn countries and paying cyber ransom.

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