Billionaire investor Leon Cooperman told CNBC that older people do not understand Bitcoin, hence why he doesn’t currently comprehend the characteristics and value proposition of the peer-to-peer monetary network.

“I say that if you don’t understand bitcoin, it means you’re old,” he said on CNBC’s Squawk Box on Thursday. “I’m 78. I’m old, I don’t understand it.”

Yet, the Omega Advisors chairman proceeded to explain that he does have an opinion on Bitcoin; he doesn’t think it “makes a great deal of sense” and said gold is a more certain store of value in his opinion.





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