Billionaire Bill Ackman Reveals Crypto Investments and Praises Helium (HNT)

Billionaire and hedge fund manager Bill Ackman has revealed his investments in cryptocurrencies and explained why his views on cryptocurrencies have changed. Ackman, whose net worth is estimated at $2.8 billion by Forbes, explained his views on cryptocurrency on Twitter. thread.

Founder and CEO of the company Pershing Square Capital Management He said he was initially skeptical about encryption. His skepticism was largely due to the fact that cryptography could facilitate fraud.

However, “after studying some of the more interesting cryptocurrency projects,” Ackman said he believes cryptography could be useful.

"I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created," Ackman said.
"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," he continued.

Ackman acknowledged that there were problems with encryption, particularly with fraud. Unethical promoters can “create tokens simply to facilitate pump-and-dump schemes,” Ackman said. He even mentioned that right now, scams can outnumber legitimate companies in crypto.

However, despite this, Ackman believes that digital currencies have a huge potential to benefit society. Its impact, Ackmann believes, “may eventually be compared to that of the telephone and the Internet”.

Ackman said he used to believe that cryptocurrencies had no intrinsic value. In his view, the cryptocurrency boom was just a “modern version of the tulip craze.”

What changed his mind was seeing some of the projects that helped him understand how tokens can build intrinsic value over time. He went on to explain his case for cryptocurrency using the example of the Helium Network project.

Helium Network is a cryptocurrency startup that provides a decentralized network for low-power, long-distance Internet of Things (IoT) applications. The network allows ordinary people to buy devices that act as hotspots and mine HNT tokens. Over time, the network becomes a “two-sided market” in which miners buy hotspots to mine tokens. In exchange, users buy HNT tokens to use the network.

The model is a great example of how crypto projects allow independent parties to collaborate and create value. Moreover, it allows for the most efficient collaboration from central control.

"Consider the capital investment and time required for Verizon or ATT to create the same network. Consider the regulatory hurdles and international coordination that would have to be overcome compared with the Helium model," Ackman points out.

Helium Network has raised more than $200 million from the project’s backers, including Andreessen Horowitz and Tiger Global. The company’s latest financing round was valued at $1.2 billion. The project found itself in the midst of alleged controversy Using fraudulent endorsements.

Many early backers claim their devices failed to deliver the promised returns, all the while Helium executives and early investors affluence. HNT icon is disabled nearly 95% since last year.

Akman reveals his belongings

After making his case for cryptocurrency, Ackman revealed that he is a “small direct investor in crypto projects,” including Helium Network (HNT).

Other than Helium, also invest in ORIGYNTech and Goldfinch Finance. ORIGYNTech is a platform that allows art owners to certify their art using the blockchain. Goldfinch Finance is a stablecoin yield farming platform.

"I am also an investor in seven crypto VC funds and a small investor in companies that help with tax compliance and/or reduce fraud in crypto," Ackman revealed.

Bill Ackman is an influence investor. His advocacy of blockchain technology and cryptocurrency can help increase institutional adoption of the technology.

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