Why AQR’s Asness Is Still ‘Cynical’ on Bitcoin

The video discusses the increasing significance of Bitcoin in the financial world, highlighting how quants are focusing on it due to its size and impact. It explains trend following as a trading strategy, emphasizing its simplicity and risk management aspects. The speaker mentions the potential of incorporating Bitcoin into trend following strategies, while expressing skepticism about developing a reliable valuation model for Bitcoin, noting its current trend-based trading nature.

In what way does the speaker express skepticism about the future of Bitcoin valuation?

What challenges does the speaker mention regarding creating a valuation model for Bitcoin?