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Billionaire Investor Warns of an Inevitable Crypto Crash

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Magellan Financial Group manages more than 113 billion Australian dollars in global equities and global listed infrastructure. Douglass, who is widely believed to be one of Australia's most successful fund managers, cautioned recently that it's inevitable the crypto market will crash and that even Bitcoin, which is the most well-established of the virtual coins, is likely to see its value go to zero. Here's what Douglass had to say about why he believes the crypto market is doomed to blow up.