Cryptocurrencies sold off massively this year, but Buffett disciple Mohnish Pabrai says the worst is not over. “I think most of the crypto stocks and investments in the end will be a big zero,” Pabrai, who is managing partner of Pabrai Investment Funds, told CNBC on Wednesday. The veteran investor said crypto “is a bubble,” and that he did not have a long or short position on the digital asset. Cryptocurrencies such as bitcoin and ether have plummeted this year. Bitcoin has lost more than half of its value from an all-time high of $68,982 reached in November, and ether has lost about 60% since a high in 2021, based on Coin Metrics data. The movements in crypto have tracked the performance of stocks, which have been highly volatile as fears of rising rates, surging inflation and recession risks rise. Other investors have also called crypto a bubble, with all-star investor Rich Bernstein warning late last year that cryptos are the “biggest financial bubble ever in history.” A bubble...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...