“The ability to issue a token to incentivize participants in a venture is a powerful lever in accessing a global workforce to advance a project. The problem with crypto is that unethical promoters can create tokens simply to facilitate pump and dump schemes,” he said.
Ackman told his more than 563,300 Twitter followers he’s a “small direct investor” in crypto projects, including WiFi network Helium, bike-sharing company Limebike, and Switzerland-based Origyn Foundation.
He also said he’s an investor in seven crypto venture capital funds and a small investor in companies.
“In total these investments represent less than 2% of my assets. I invest more as a hobbyist trying to learn than as a careful investor as I minimize the time I spend on non-Pershing Square investments so please don’t rely on my due diligence or take any of the above as an investment recommendation,” he said.
“All of the above said, 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.
