Bitcoin blasted as having 'no inherent worth' by world's biggest hedge fund boss despite price rocketing by 20 per cent

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Bitcoin blasted as having ‘no inherent worth’ by world’s biggest hedge fund boss despite price rocketing by 20 per cent
Updated: 19:54 ET, Jul 26 2021
THE BOSS of the world's biggest hedge fund has blasted bitcoin as having "no inherent worth".
Luke Ellis, the chief executive of Man Group, compared bitcoin and other cryptocurrencies to the 17th-century craze for tulips in The Netherlands.
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Bitcoin was blasted as having 'no inherent worth' despite a 20 per cent jump in price on MondayCredit: Reuters
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Luke Ellis, the chief executive of the world's largest hedge fund called cryptocurrencies a 'tulip bulb'
Known as 'Tulip Mania', a period in the mid-1600s saw the price of tulips - which was considered a luxury good - rise nearly ten times its original worth before dramatically collapsing.

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