According to U.Today, billionaire Steve Cohen revealed in a recent CNBC interview that he owns a small amount of Bitcoin, influenced by his son's interest in the cryptocurrency. Cohen admitted that he does not closely follow Bitcoin, nor does he have a strong opinion on it. He believes that the future of cryptocurrencies will depend on their use cases. While Bitcoin is interesting, Cohen sees it as just a part of the larger crypto ecosystem.
Cohen also shared his views on the equities market, denying that it is in a bubble. He believes there is potential for more growth, predicting that there will be significant winners and losers. He compared the rise of artificial intelligence (AI) applications to the 1990s, a period when many successful companies emerged. Cohen anticipates that many new names will appear in the near future due to AI.
Regarding the Federal Reserve's monetary policy, Cohen suggested that three rate cuts would be reasonable this year. He believes that inflation has been somewhat contained, but he also noted that it would be difficult for the Federal Reserve to achieve its 2% inflation target. Additionally, Cohen, who is the chairman of Point72, predicted that a four-day work week could be on the horizon.