Influenced by the bear market Bitcoin (BTC) There were sharp drops in all cryptocurrencies, especially in cryptocurrencies.
The bank, which went bankrupt in 2008, while long-lost investors were now waiting for the rise to come. Lehman Brothers’one of the most successful fund managers in Lawrence McDonald He recently shared a new post about Bitcoin.
“The Lehman Brothers Crisis and the Great Crash” McDonald, who topped the New York Times bestseller list with his book, argued that the leading cryptocurrency Bitcoin destroyed much more wealth than it succeeded.
The famous name believes that Bitcoin cannot actually serve as a viable store of value due to the large drops.
bitcoin While proponents point to BTC’s spectacular returns over the past 10 years, McDonald’s has actually been around for no one else for that long. BTCHe states that he does not hold .
Pointing out that Bitcoin has decreased by more than 50% every year since 2010, McDonald stated that it is difficult for any investor to withstand these decreases.
“Bitcoin fell 77% in 2021-2022.
Also, Bitcoin has dropped over 50% almost every year since 2010.
It probably destroyed much more wealth than it created.
In reality, very few people have actually owned Bitcoin for more than 7 years.”
*Not investment advice.
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