Billionaire investor Bill Ackman has performed an about-face on his previously icy attitude towards crypto, saying that it is “here to stay.”
The founder and CEO of hedge fund management company Pershing Square revealed that he is now a “small direct investor” in several crypto projects, including Helium, ORIGYN, and Goldfinch Finance.
In a lengthy Twitter thread, Ackman stated that, “I think crypto is here to stay and with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy.”
He also explained his rationale for the volte-face, which boils down to his discovery that some blockchain projects have more utility than others. The one investment Ackman cited most was Helium.
What is Helium?
Helium is a blockchain-based network of wireless communication protocols powered by thousands of individual users. It initially focused on powering Internet of Things (IoT) devices like sensors and trackers. The network currently has nearly a million nodes; operators are incentivized with Helium (HNT) tokens.
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