Whitney Tilson’s latest email his second one after a long hiatus – also see this quote from a prior article
Whitney Tilson is back after a long hiatus. According to an email sent to investors, Tilson is only short seven companies currently. He discusses two of them below, LL and WRLD. Tilson also discusses bitcoin, which he is not a fan of. The cryptocurrency has been on a big downturn, but had a huge gain before that, starting almost to the day Tilson called it “an obvious scam“, as the chart below demonstrates. It sounds as though Tilson is calling for bitcoin to go to zero.
A few years ago, crypto hedge funds were all the rage. As cryptocurrencies rose in value, hundreds of hedge funds specializing in digital assets launched to try and capitalize on investor demand. Some of these funds recorded double-digit gains in 2020 and 2021 as cryptocurrencies surged in value. However, this year, cryptocurrencies have been under Read More
3) Lastly, speaking of zeroes, it’s good to see bitcoin collapsing toward that mark:
Bitcoin is proving a big disappointment. The virtual currency is down 33 percent against the dollar in 2015, and 71 percent in the last year. There is almost certainly more bad news to come.
The electronic token has lots of enduring problems. As a store of value that is not subject to government intervention, it lacks the support of authorities and is always in danger of being banned.
The market was illiquid to begin with and is becoming even more so, increasing the risk of abuse. Bitcoins generate no income, so they count as collectibles – more like artwork than a few shares of Google. In these matters, beauty and value depend on the fickle eyes of the beholder and potential buyer.
Below is the latest with an updated chart
These cryptocurrencies are the biggest scam. I hope American regulators are ashamed that Chinese regulars are FAR ahead of them in reining this in! Is There a Cryptocurrency Bubble?, https://mobile.nytimes.com/2017/09/15/business/cryptocurrency-bubble-doge.html.