Crypto and bitcoin are "BS" and rife with fraud, and most coins will "go under", says macro researcher Paul Krake

Paul Krake is an ex-macro hedge fund manager who now provides research to professional investors. In an interview on Srivatsan Prakash's Market Champions podcast, he discussed three "mega trends": China's economic growth, climate transformation, and digitization. This is what he had to say about Bitcoin (BTC-USD) and crypto more broadly, with the quotes edited for clarity: