Leon Cooperman, the 78-year-old billionaire investor, has said that those who don’t understand Bitcoin are likely to be old and has urged investors to stick with gold as it’s a better store of value.
<h2><strong>Bitcoin Doesn't Make Sense to Leon Cooperman </strong></h2>
Appearing in an interview with <a href="https://twitter.com/SquawkCNBC/status/1435943371013509125" target="_blank" rel="nofollow noopener">CNBC’s Squawk Box</a> yesterday, the chairman of Omega Advisors investment company, Leon Cooperman, said that gold is a better store of value than Bitcoin (BTC) if one is nervous about volatility.

Cooperman favored the precious yellow metal over the leading cryptocurrency as older people can’t grasp the characteristics and value of the digital asset, saying, "I say that if you don't understand bitcoin, it means you're old. "I'm 78. I'm old, I don't understand it."

For him, Bitcoin “doesn’t make sense” and that he would be very much careful about it.
<blockquote><em>"My guess is I'd be very careful in bitcoin. I don't think it makes a great deal of sense. And if you're nervous about the world, gold, to me, would be a better place to store value than bitcoin."</em></blockquote>
<h2><strong>U.S. Govt Should Not Accept BTC as Legal Tender</strong></h2>
While admitting that he is not aware much about the world of cryptocurrencies, the billionaire investor warned that the U.S. government is keeping a close watch over it.

Furthermore, he believes that the American government should not follow the example of El Salvador in accepting Bitcoin (BTC) as a legal tender as it’s not in the interest of authorities to view BTC as a substitute for the U.S. dollar.

Claiming himself as a paper guy, he added owning very little amount of gold. Gold’s <a href="https://www.cryptoknowmics.com/news/gold-prices-plunge-below-1700-oz-yet-bitcoin-holds-strong/">price</a> against the U.S. dollar is somewhat similar to ten years ago. In contrast, BTC is the best performing asset in the last decade with an ROI of 8,900,000%. On a yearly scale, Bitcoin is <a href="https://www.cryptoknowmics.com/news/third-largest-bitcoin-whale-buys-the-dip-for-23-million/">up by 60% since the start of the year</a>, while the precious metal is down by more than 5%.

If You Don't Understand Bitcoin, You're Old: Investor Leon Cooperman

Billionaire investor, Leon Cooperman has said that those who don’t understand Bitcoin are likely to be old and urged investors to stick with gold

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

If You Don't Understand Bitcoin, You're Old: Investor Leon Cooperman

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