Ken Griffin dismissed allegations that his massive rescue fund stronghold investment had a hand in spoiling the “Reddit Rally”, calling it a “crazy conspiracy theory”.
Refreshing his Thursday testimony on Capitol Hill over last month’s surprise surge in Gametop and AMC Entertainment shares, the Wall Street billionaire on Friday put forward the idea that he’s playing both sides of the chaotic brief squeeze .
Some Reddit-fueled retail investors have accused their hedge funds of going ahead to invest $ 2 billion in Melvin Capital – a high-profile hedge fund that placed bets against Gametop shares that they attacked Did – even his securities firm was tasked with executing many of his Gametop trades. On Robinhood that was squeezing the crippled hedge fund.
Specifically, rumors suggested that Griffin’s fund was involved in Robinhood’s decision to limit users’ ability to purchase Gametop laptops, and that it was Melvin and its founder, Citizen Alum Gab was plotting to block retail investors to protect Plotkin.
“If I had to run my business at any time for the possibility of a non-conspiracy conspiracy theory,” Griffin Told CNBC, “I will have no business.”
Asked directly if his investment in Melvin could be wrong at the height of a small squeeze, Griffin said, “No, I think Gabe Plotkin is one of the best investors of his generation.”
As the views of powerful financiers on the red-hot market for bitcoin, Griffin stated that they have none.
“I don’t spend much time just thinking about cryptocurrency,” Griffin said. “I have not seen the economic basis of cryptocurrencies. I understand how to value a share … I don’t know how to think of digital tokens in an effective way. “
Bitcoin hit another first high on Friday, raising its total market value above the $ 1 trillion mark after Tesla chief Elon Musk called cryptocurrency “less dumb” than cash.