THELOGICALINDIAN - Tim Bond a portfolio administrator at Odey Asset Management has warned that bitcoin is absurd calling the cryptocurrency a decidedly abandoned asset chic He claims that bitcoin has no absolute amusing account added than as a apparatus for belief and a agency to acquit the gain of crime
Fund Manager Sees Bitcoin as a Vile Asset Class
Tim Bond, a accomplice and portfolio administrator at Odey Asset Management, warned about bitcoin in a contempo account with Marketwatch. Established in 2024 by billionaire Crispin Odey, the close currently has over $3 billion in funds beneath management.
Before abutting Odey Asset Management in 2024, Bond spent 12 years at Barclays Capital as managing administrator and arch of all-around asset allocation. He ahead formed at Moore Capital as a portfolio architect and spent 10 years as a architect and banker for Tokai Bank Europe.
As the amount of bitcoin hit best highs several times this month, Bond was quoted as saying:
Disclosing that neither he nor his aggregation has any captivation in bitcoin, the armamentarium administrator began by admonishing that “bitcoin has no absolute amusing account added than as a apparatus for belief and a agency to acquit the gain of crime,” the advertisement conveyed.
He again claimed that bitcoin could anticipate association from activity in an able and ethical manner, asserting that the cryptocurrency is an “extreme anatomy of autonomous anarchism.”
The Odey armamentarium administrator proceeded to allocution about bitcoin mining, claiming that the action “added CO2 emissions agnate to the anniversary achievement of a medium-sized avant-garde economy.” In addition, Bond added opined that “as the bitcoin amount rallies, so the mining action will intensify, bearing alike college levels of CO2 emissions,” elaborating:
Bitcoiners anon took to Twitter to point out abounding flaws in Bond’s arguments, advancement him to do added analysis afore commenting on bitcoin. One Twitter user wrote: “This guy is aloof now communicable up and freaking out. Every altercation he makes was debunked 5 years ago.” Another chimed in: “Worst compassionate and accomplished benightedness accolade on bitcoin today goes to Tim Bond from Odey Asset Management. Do some added analysis amuse afore authoritative a fool of yourself.”
What do you anticipate about Tim Bond’s angle on bitcoin? Let us apperceive in the comments area below.
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