Oil tycoon and famed investment manager T. Boone Pickens isn’t a big fan of cryptocurrencies.
Why?
That was his response Tuesday when asked on Twitter his thoughts on cryptocurrencies.
The crypto market didn’t do anything Tuesday to change Pickens’ mind, with bitcoin losing as much as 26% of its value during the day before closing down about 15%. Almost all cryptocurrencies, including Ethereum and Ripple, tumbled as well.
Last week, Pickens announced he was ending his energy-focused hedge fund, BP Capital Management, citing the fund’s weak performance and his diminishing health.
“It’s no secret the past year has not been good to me, from a health perspective or a financial one,” he wrote in a letter published Friday. “If you are lucky enough to make it to 89 years of age like I have, those things tend to put life in perspective.”