Third Point chief executive officer Daniel S. Loeb is giving the cryptocurrency a lot of thoughts, based on multiple comments he just made on Twitter.
“I have been doing a deep dive into cryptocurrency lately… It’s a real test of being intellectually open to new and controversial ideas,” Bloomberg quoted the billionaire investor as saying in a tweet.
Loeb is noted for turning $3 million into an $18 billion hedge fund over the years and is a highly-respected figure on Wall Street. The crypto market is now where he’s headed as he plans his next move into digital assets.
His comments came as a response to a blog post titled “NFTs and a Thousand True Fans” by Chris Dixon, a general partner at the venture-capital firm Andreessen Horowitz, according to Bloomberg. In the post, Dixon elaborates upon the impact that NFTs will have on virtual creators.
Maintaining two opposing ideas
Loeb said that keeping healthy disbelief was necessary alongside broadening one’s mental grasp of digital currency.
He emphasized that doing this called for engaging in what the late Apple co-founder Steve Jobs described as requisite for a superior way of thinking — “to maintain two opposed ideas in one’s mind and retain the ability to function,” according to CrypoSlate.
Recently, a wave of corporate top honchos has disclosed their Bitcoin holdings. Tesla announced earlier this year that it had bought $1.5 billion worth of bitcoins. And more recently, Twitter CEO Jack Dorsey tweeted that he and rapper Jay-Z donated 500 bitcoins worth around $24 million to an endowment called BTrust to fund the development of the crypto.
The currency of choice for international trade
The rise in interest in bitcoin has propelled its price that ushered in the year trading around $32,000 to trade at more than $51,000 on Wednesday, after hitting a new all-time high of more than $57,000 before losing traction in the past days.
Meanwhile, cryptocurrency is continuing to win the hearts of some of the world’s most prominent financial institutions. Citigroup laid out a bold prediction for Bitcoin in the global financial infrastructure.
According to Citigroup, bitcoin has the potential to become “the currency of choice for international trade” in the coming years.
Image courtesy of Cointelegraph News/YouTube
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