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Billionaire investor Bill Ackman says 'crypto is here to stay'

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Billionaire investor and hedge fund manager Bill Ackman says he remains bullish about cryptocurrencies, despite the recent collapse of the FTX cryptocurrency exchange and the market turmoil that’s followed it.In a Nov.

20 Twitter thread, the CEO and founder of hedge fund management firm Pershing Square Capital Management said he believes “crypto is here to stay” despite recent challenges, though there’s a need to increase oversight and remove “fraudulent actors” in the space.

Bill Ackman is a billionaire American investor most recently calling for the removal of regulatory barriers and easing regulations in New York in order to make the city a crypto hub.

He is also direct investor in a number of crypto projects. “I think crypto is here to stay and with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy,” he said.

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