Coupang Reports Q4 Loss After Data Breach, Revenue Misses Estimates 
U.S. Stock Futures Fall as Nvidia Drops Despite Strong Earnings; Netflix Jumps 9% 
Middle East Airspace Shutdown Disrupts Global Flights After U.S.-Israel Strikes on Iran 
Tokyo Core Inflation Slows Below 2%, Complicating BOJ Rate Hike Outlook 
Panama Investigates CK Hutchison’s Port Unit After Court Voids Canal Contracts 
Gold Prices Steady in Asia, Set for Strong February Gains on Safe-Haven Demand 
FedEx Faces Class Action Lawsuit Over Tariff Refunds After Supreme Court Ruling 
Strait of Hormuz Oil and LNG Shipments Disrupted After U.S.-Israel Strikes on Iran 
FAA Plans Flight Reductions at Chicago O’Hare as Airlines Ramp Up Summer Schedules 
Japan Nominates Reflationist Economists to BOJ Board, Signaling Policy Shift 
Netflix Declines to Raise Bid for Warner Bros. Discovery Amid Competing Paramount Skydance Offer 
Germany and China Reaffirm Open Trade and Strategic Partnership in Landmark Beijing Visit 
Oil Prices Steady as US-Iran Nuclear Talks and Rising Crude Inventories Shape Market Outlook 
Asian Markets Slide as Nvidia Earnings, U.S.-Iran Tensions and AI Valuations Weigh on Investor Sentiment 
OpenAI Pentagon AI Contract Adds Safeguards Amid Anthropic Dispute 
Meta Signs Multi-Billion Dollar AI Chip Deal With Google to Power Next-Gen AI Models 
John Paulson believes that cryptocurrencies will all come down to nothing, so he is not recommending it for investment. The hedge fund billionaire shared what he thinks of these digital currencies through an interview the past weekend.
According to Fox Business, John Paulson said that cryptocurrencies are not a good investment as they will eventually go bust at some point later on. He also called crypto a “worthless bubble” that will eventually not amount to anything in the end.
"I would describe them as a limited supply of nothing, so to the extent, there is more demand than the limited supply, the price would go up,” the 65-year-old billionaire explained. “But to the extent, the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount so I wouldn’t recommend anyone invest in cryptocurrencies.”
Digital assets are doing so well these days that is why many people are being lured into investing in them. Its prices are increasing, but for Paulson, he would rather invest in gold even if it has been outperformed by digital currencies because he believes it is more stable.
Bloomberg reported that Paulson still prefers to be old school and opt for gold than cryptocurrencies. This is his choice because he thinks there is a long list of downsides in crypto investments.
He said that it would wipe out in the short term, which they are practically heading to zero. For instance, bitcoin would go from $5,000 to $45,000, but that is just for a short time and would eventually fall back again to the lowest number. For gold, it is for the long term, and the value remains high almost always.
At any rate, it turned out that cryptocurrency is not really fully accepted yet within the business sector. It was said to still be receiving criticisms from investors.
In fact, aside from John Paulson, another well-known billionaire, Warren Buffett does not have faith in crypto since he has been roasting this kind of investment as well. Meanwhile, Paulson has plans of turning his hedge fund into a family firm as his assets start to plunge from $38 billion in 2011 to $9 billion in 2019.
