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The Big Take

Billionaire Paulson Who Shorted Subprime Calls Crypto ‘Worthless’ Bubble

The investor also explains why gold is poised to surge on “Bloomberg Wealth with David Rubenstein.”

Bloomberg business news
Cryptocurrencies Are a Bubble: John Paulson

Ever since John Paulson bet against the U.S. housing market more than a decade ago, people keep asking him about his next big trade.

The billionaire hasn’t found anything to rival his massive short, but it’s hard to top the $20 billion that Paulson made for himself and investors when subprime mortgage bonds collapsed and ignited the worst financial crisis since the Great Depression.