Billionaire Hedge Funder Bill Ackman Mulls Bitcoin
Bryan Bedder
Pershing Square Capital Management founder and CEO Bill Ackman turned some of his attention to Bitcoin {{BTC}} on Saturday afternoon, cheekily suggesting a scenario in which the price for the world's largest crypto could soar far higher than anyone might imagine.
"Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues," said Ackman in a post on X.
"Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses," he continued. "Maybe I should buy some Bitcoin."
