Li Lu, founder of Himalaya Capital, stated that cryptocurrency will eventually cease to exist on its own. He shared this view during the 36th Annual Graham & Dodd Event at Columbia Business School on October 15, 2026.
Lu argued that digital assets lack the enforcement mechanisms provided by sovereign states, which he considers essential for money to function. He characterized crypto as speculative and lacking the economic utility found in traditional value-based investments.
The investor clarified that he is not advocating for regulatory bans. Instead, he believes the asset class contains a fundamental structural flaw that will lead to its eventual disappearance without external intervention.
Lu holds degrees from Columbia University and established Himalaya Capital in 1997. His comments align with his long-standing investment philosophy, which prioritizes businesses with durable competitive advantages over speculative assets.
The remarks did not trigger any significant market reaction. Currently, the lack of clear regulatory frameworks remains a concern for institutional investors who prioritize government backing and long-term stability.
