Algebris Investments’ founder Davide Serra has provoked swathes of critcism following his tweets about cryptocurrency Bitcoin.
The boutique founder, who managers the Algebris Asset Allocation fund, posted his opinion on the volatile entity last night.
Bitcoin is money laundering tool for criminals/tax cheaters that has been transformed in the biggest Ponzi Scheme of all time with a value of $160bn (3x Madoff) an I am amazed not a single regulator takes action. Just unbelievable (@davidealgebris) Nov 29, 2017
Twitter users promptly rounded on Serra, with many dissenters attacking his logic and one user told him to ‘kiss his business goodbye. Adapt or die’. Click here to see the whole Twitter thread.
What's your view?
Serra is not the first fund manager to speak openly about concerns over the fast-appreciating crypto-currency. Schroders' James Sym last week said it was 'ludicrous', while famed bond manager Jeff Gundlach has also been a vocal opponent.
But, is Bitcoin just a speculative boom? Or should fund managers’ dive in head first? Where do you stand on the trend?
Citywire Selector wants your views, please fill out the poll below and see if your selection counterparts share your view on this ever-changing trend.
Poll will close at 2.30PM CET on December 1.