“我是说，如果你不懂比特币，那就意味着你老了。我78岁，我老了。我不懂它。”Hedge fund magnate Leon Cooperman: gold is a better hedge for people looking for a safe haven for cash.
Leon Cooperman, a US billionaire investor and hedge fund magnate, said in an interview with CNBC on Thursday that people who don't understand bitcoin may be older people like himself, and gold is a better way to preserve their value for those looking for a safe haven for cash.
Mr Cooperman said Barry Diller, a veteran investor, thought cryptocurrencies were a "hoax" but he did not know whether they were or not because he knew nothing about digital assets. Cooperman said on CNBC's "Squawk Box" program:
"I mean, if you don't know bitcoin, it means you're old. I'm 78 years old. I'm old. I don't understand it. "
He says one thing he knows very well is that it is not in the interest of the US government to make Bitcoin a substitute for the dollar:
"I think I will treat Bitcoin cautiously. It doesn't make much sense. If you feel uneasy about the world, from my point of view, gold is a better hedge than Bitcoin. "
He also says he holds a small share of gold and is an optimist.
The price of gold has fallen 9% over the past year, while bitcoin is up 60% from a year earlier.
Bitcoin got off to a strong start to the week, breaking the $50,000 mark at one point, but tumbled 17% on Tuesday and did not recover significantly as of Friday.
On the stock market, Cooperman said he was keeping a close eye on inflation, Fed statements, market developments, gold or bitcoin movements, the dollar exchange rate and interest rates as a whole. He said:
"the market has collapsed, and when it finally falls, it moves fast enough to make you dizzy."
'The only certainty in this market is that things will change when they are least expected, but the current cyclical conditions are good for the market, 'Mr. Cooperman said.
He predicts that the US economy will not decline any time soon, and it will be at least a year or more before we can see a recession.
