Bill Ackman, Billionaire Hedge Fund CEO, Teases Possible Bitcoin Investment

According to CoinDesk: Billionaire hedge fund manager Bill Ackman has hinted at a possible interest in Bitcoin. The founder and CEO of Pershing Square Capital Management suggested a hypothetical scenario where Bitcoin's price could reach unprecedented highs. In a recent post on X, Ackman humorously outlined a cycle where the rising value of Bitcoin encourages more mining, in turn spiking energy demand and costs. This, he suggests, could catalyze inflation, depreciate dollar value, and further incite demand for Bitcoin – ultimately leading to an uncontrollable cycle of rising Bitcoin and energy prices. He humorously concluded his post asserting, "Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin." He later added a sobering thought by admitting the impact could also rebound, turning the cycle in the opposite direction. This cheeky interaction elicited responses from various Bitcoin advocates, including Michael Saylor, founder and Executive Chairman of MicroStrategy. Saylor countered Ackman's claim that Bitcoin's value rise results in higher energy costs, offering to discuss the subject directly with him. Although Ackman has generally avoided Bitcoin and cryptocurrency, he did disclose in 2022 that he held small investments in a few crypto projects and crypto venture funds as more of a hobby and learning experience than a focused investment strategy. This playful tease of Bitcoin interest might signify a potential shift in Bill Ackman's outlook toward cryptocurrency.