Leon Cooperman Doesn’t Understand Bitcoin But Needs It

Leon Cooperman Doesn't Understand Bitcoin But Needs It

Billionaire investor Leon Cooperman told CNBC that older people do not understand Bitcoin, hence why he doesn’t currently comprehend the characteristics and value proposition of the peer-to-peer monetary network.

“I say that if you don’t understand bitcoin, it means you’re old,” he said on CNBC’s Squawk Box on Thursday. “I’m 78. I’m old, I don’t understand it.”

Yet, the Omega Advisors chairman proceeded to explain that he does have an opinion on Bitcoin; he doesn’t think it “makes a great deal of sense” and said gold is a more certain store of value in his opinion.

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