Update: The article previously stated that Mr. Ackman was an investor in Helium. However, subsequent tweets made it clear that "Helium was not involved." The article has been updated to reflect this.
Billionaire investor Bill Ekman has previously changed his icy views on cryptocurrencies, stating, “I have to stay.”
The founder and CEO of hedge fund management company Pershing Square revealed that he is a “small direct investor” in several crypto projects, including Dimo, a vehicle data collection platform, Origyn, a cryptocurrency backtesting platform, concept, and Goldfinch Finance. .
Ackman wrote in a lengthy tweet: “I believe cryptocurrencies will stay and with proper regulation and oversight they can bring great benefits to society and boost the global economy.
He also explained the reason for the drastic change , which comes down to the discovery that some blockchain projects are more profitable than others; Ackman's most mentioned crypto project is Helium.
What is helium?
Helium is a blockchain-based wireless protocol network operated by thousands of private users. It was originally focused on powering Internet of Things (IoT) devices such as sensors and trackers. The network currently has about a million nodes; Traders are rewarded with helium tokens (HNT).
Akman seems to be attracted to the project's tokenomics.
He tweeted: “Given HNT's end supply, the balance between supply and demand will cause the market price to rise or fall over time depending on the success of the Helium Wi-Fi network. Therefore, HNT will be a commodity whose price will be determined by supply and demand.
Ackman says he has invested in seven blockchain venture funds and is a small investor in companies that “reduce cryptocurrency scams,” which was one of the main reasons he was initially wary of the industry.
The billionaire said that his crypto portfolio was a "hobby" and now believes that "with proper oversight and regulation, it can bring great benefits to society and has the potential to grow the global economy."
helium in the news
In August, Helium came under fire after two companies claiming to be Lim's sponsors and a sales team denied involvement despite their logos appearing on Helium's website. Helium quickly removed the logos.
Helium community approves transfer of cryptographic wireless network to Solana
In September, following a community vote, the Level 1 helium block was moved to the Solana network. Amir Halem, founder and CEO of Helium, said the move was driven by a desire to expand its ecosystem. After some research, the Helium Foundation settled on Solana due to high transaction and data transfer fees.
In November, Helium and Solana Labs announced a partnership to introduce the upcoming Helium Mobile, a smart service partially backed by T-Mobile, in Solana's saga of smartphones with embedded cryptocurrencies.