Investor Cliff Asness: Bitcoin is a bubble unless uses besides speculation and criminality emerge

Cliff Asness, co-founder of AQR Capital Management, believes bitcoin is in a speculative bubble after the cryptocurrency's swift rally carried it above $100,000 following the November presidential election. "I'm on the bubble side, on net," Asness said on CNBC's "Money Movers" on Monday. "To move me off that, you really need not a price change, but a use case... That's what could convince me to become maybe more of a crypto person when I find any use for it, aside from speculation and criminality."