Cryptocurrency industry continues to grow day by day and Bitcoin gets its share from this growth. Despite its increasing market value and popularity, many people continue to be “skeptical” of the industry. One of these names was Nassim Nicholas Taleb, the author of the book “The Black Swan”.
Taleb, on the CNBC channel Squawk Box, criticizing the modern economic environment. bitcoin He claimed that it led to the formation of tumors such as
“I think we have a Disneyland that has destroyed our economic structure for the last 15 years… The Fed has already exceeded its target by setting interest rates to very low levels. They damage the economy and cause bubbles to form, all by creating tumors like Bitcoin.”
Demand did not stop with his criticisms, and criticized the “new generation” for not understanding basic economic concepts, and came to the following conclusion:
“At one point there was such a thing as a discount rate. All these concepts are overlooked by the new generation.”
Taleb’s Views of Bitcoin Are Not New
Taleb is known to be a known Bitcoin critic, citing BTC’s volatility as its main drawback, despite his rally in February 2021 saying he got rid of all his Bitcoins and pioneering decentralized finance (DeFi). Bitcoin reached $ 49,000 with the rally it recorded at that time, and then paved the way for even higher rallies.
A few months later, as we reported on Koinfinans.com, it denounced the flagship digital currency, stating that it had failed as a currency and operated as “an open Ponzi scheme: money made by one is taken from another.”
More recently, he mocked MicroStrategy’s CEO Michael Saylor, who left his post after hatching a notable plan to accumulate more Bitcoin for the company, calling his departure “another nail in the coffin” for the strategy.
Meanwhile, according to data from CoinMarketCap, Bitcoin was down 1.14% on the day but was up 3.89% over the previous seven days to trade at $20,078.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.