Noelle Acheson, Head of Market Insights at Genesis Trading, joins Yahoo Finance to discuss the latest in cryptocurrency and NFTs.
SEANA SMITH: Bitcoin not moving a heck of a lot today, although under a slight pressure just above 48,000. But we got some strong words from billionaire investor John Paulson. He was saying that cryptocurrencies, that they are eventually going to be, quote, “worthless”. So let’s talk about this and Noelle Acheson. She’s the head of market insights at Genesis Trading. And Noelle, it’s good to see you. The crypto, it has its fair share of skeptics. We know a lot of people have had pretty choice words when it comes to cryptocurrencies and whether or not they are a smart investment.
But what do you think the crypto market, what do you think investors are making of the comments that we got from John Paulson today?
NOELLE ACHESON: Well first of all, I must say I do respect his way with words that crypto is a limited supply of nothing. That made a lot of us chuckle. It wasn’t a surprise, Seana. We know that there are some institutional investors, traditional investors, that share this line of thinking. Then we also have investors with very strong reputations such as [INAUDIBLE] Jones, Stanley Drunkenmiller, Bill Miller, and many more who have a different view of the role that crypto assets can play on the macro stage. And what [INAUDIBLE] on the potential use cases and eventual acceptance.