Is Crypto 'A Jihadist Call' Against US Dollar? Ken Griffin Thinks So

Cryptocurrencies are at war with the United States dollar, according to billionaire hedge fund manager Ken Griffin, who is also critical the amount of time and energy spent on crypto.

What Happened: According to a Monday Bloomberg report, Griffin admitted that his firm would trade cryptocurrencies if they were properly regulated.

Furthermore, he praised the Securities and Exchange Commission chairman for paying attention to the space, after he hinted at an increase of pressure on decentralized finance (DeFi).

See Also: WHAT IS DEFI?

Griffin also suggested that the passion and energy" dedicated to crypto instead be "directed toward making the United States stronger." He said it is "a crazy concept" the United States accepts that "so many bright, young, talented people to come up with a replacement for our reserve currency.”

He wentas far as to describe cryptocurrencies as “a jihadist call” that some people don’t believe in the dollar.

Griffin is the founder of hedge fund Citadel and market-maker Citadel Securities and longtime crypto skeptic who questioned the value of cryptocurrencies and criticized their adoption by younger investors over stocks in 2018.

Citadel is famously involved in the scandal that followed after Reddit's community performed a short squeeze on GameStop Corp.GME.

See Also: IS CRYPTOCURRENCY A GOOD INVESTMENT?