Cliff Asness, co-founder of AQR Capital and billionaire hedge fund manager, continues to express skepticism about Bitcoin, dismissing it as a “bubble” with no clear use case. In a recent CNBC interview, Asness reiterated his critical stance but admitted that he avoids shorting the cryptocurrency due to its high volatility.
A History of Bitcoin Criticism
Asness has consistently questioned Bitcoin’s legitimacy. In 2021, he ruled out incorporating Bitcoin into quantitative strategies, doubting the feasibility of reliable valuation models. Following the FTX collapse in 2022, he doubled down on his criticisms, calling cryptocurrencies “bubble assets” and “made-up pretend money.”