Billionaire CEO Exposes Link Between Cryptos and Stocks
- Billionaire CEO exposes link between cryptos and stocks.
- Also, he said people are more interested in trading both stocks and cryptos.
According to Forbes, a billionaire CEO revealed the link between , , Dogecoin, Facebook (NASDAQ:), and Tesla (NASDAQ:). The billionaire is none but Sam Bankman-Fried, the CEO and founder of FTX.
When the bitcoin price jumped in May, some stocks also soared. This includes Tesla, GameStop (NYSE:), and AMC. As a result, the likes of Facebook have also grown as investors pile into tech companies.
Following this, Bankman-Fried said in the outcome of trading restrictions placed on some stocks in an attempt to calm markets, “hundreds of millions of dollars” rolled into meme-based crypto Dogecoin. The billionaire is the one who predicted a “convergence” between “crypto and the mainstream.”
Sam Bankman-Fried, the CEO and founder of FTX, said,
This article was first published on coinquora.com
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