Paul Singer Calls Cryptocurrencies “One of the Most Brilliant Scams in History”

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Moreover, Singer stressed that people’s desire to invest in cryptocurrencies is an “indication of limitless ignorance of the swaths of human race.

According to him, cryptocurrencies are equivalent to nothing yet “attracts priests and parishioners who run up the price.” Mobs are willing to buy it at higher prices, which is “seen as validation of the thing”

Business Insider obtained a copy of Singer’s fourth quarter letter and reported his negative perception about cryptocurrencies.