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Investing Activist Bill Ackman Sees a Future in Crypto


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Despite the current crypto winter, Bill Ackman, the CEO and founder of hedge fund management firm Pershing Square, is still optimistic about cryptocurrencies and asserts that they "are here to stay." The platforms for interpreting car data, Goldfinch Finance, Origyn, and Dimo were among the other cryptocurrency businesses Ackman mentioned as his favorites. He has shown an interest in the tokenomics of Helium.

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CEO and Founder of Pershing Square Bill Ackman interests in crypto (Source: CNBC)

Bill Ackman tweeted on Sunday:

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The telephone, the internet, and crypto share one thing in common. Each technology improves on the next in terms of its ability to facilitate fraud. As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created.

Bill Ackman compares the rise of cryptocurrencies to the development of the internet and the telephone. I think bitcoin is still in its infancy and that many people do not consider it to be a genuine phenomenon. Some of my acquaintances honestly believe that only users of the dark web will utilize cryptocurrency and conduct crimes, which may seem unreal. Ackman, on the other hand, thinks that because they can be used to issue a token as compensation for venture participants, cryptocurrencies are a terrific instrument for expanding a project's reach to a global workforce.

At first, Bill Ackman believed that tokens had no intrinsic value. Nevertheless, after learning more about other cryptocurrency businesses like Helium, he came to the conclusion that cryptocurrencies had the ability to significantly benefit society and the global economy. What is Helium then, if Ackman isn't participating in it as he said in a tweet on Sunday?

Helium Network
Blockchain technology is used by the network Helium to merge wireless communication technologies. Previously, it was focused on IoT devices like trackers and sensors. The network has one million nodes at this time, and the operators are compensated with HNT tokens.

Bill Ackman mentioned helium in a tweet:

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Given HNT's ultimately finite supply, the balance between supply and demand yields a market price which increases or decreases over time along with the success of the Helium Wi-Fi network. As such, HNT becomes a valued commodity whose price is determined by supply and demand.

Final Thoughts
Bill Ackman emphasizes that he sees his bitcoin investments as a hobby and that until they are properly regulated, the potential of digital assets will rise. In my opinion, regulation benefits investors. Decentralization is one of the qualities, nonetheless, that most intrigues me. Will regulation, though, keep cryptocurrency decentralized? We don't yet know the answer, therefore I'm curious to see what the next chapter has to give.

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