Billionaire investor who predicted 2008 housing crash says cryptocurrencies will eventually be worthless

Billionaire investor John Paulson who predicted the 2008 housing crash and bet against it, recently said in an interview that he will not recommend anyone to invest in cryptocurrencies as they will eventually become worthless.

Billionaire investor John Paulson who predicted the 2008 housing crash and bet against it, recently said in an interview that he will not recommend anyone to invest in cryptocurrencies as they will eventually become worthless. Paulson called cryptocurrencies a limited supply of nothing. He added that cryptocurrency prices will go up as long as there is demand but, will crash as the demand goes down. “I would say that cryptocurrencies are a bubble. I would describe them as a limited supply of nothing. So to the extent there's more demand than the limited supply, the price would go up. 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,” the 65-year-old investor said in an episode of "Bloomberg Wealth with David Rubenstein."