Bill Ackman, the billionaire founder of New York-based Pershing Square Capital Management, which manages Pershing Square Holdings, a London-listed investment company, appears to have experienced a damascene conversion as far as crypto assets are concerned.

Mr Ackman used to be extremely sceptical about crypto.

But in a series of Tweets made on 20 November, Mr Ackman not only admitted his change of view but also disclosed that he had made a number of small personal investments in c...