Famous mathematician and author Nassim Taleb is the world’s largest crypto currency bitcoin He said that even if it goes above $100,000 in the next bull market, it will still fail.
“Bitcoin Fails as an Inflation Protection Tool”
Nassim Taleb explained that he thinks so because Bitcoin, the leader of the cryptocurrency world, has failed to protect against inflation. According to Taleb, BTC acts the opposite of this feature.
Taleb believes that the ongoing cryptocurrency winter could literally turn into an “ice age,” meaning prices won’t be able to recover for a long time.
Bitdiots like @bukele still claim bitcoin is “cheap”.
Truth is that EVEN if it rose to 100K, it has failed.
Not only did it NOT DELIVER as a hedge ag. inflation, war, etc., but has acted w/opposite properties.Change your mind facing evidence.
— Nassim Nicholas Taleb (@nntaleb) July 2, 2022
Taleb, who is also the author of the book “Black Swan”, also targeted names such as El Salvador’s President Nayib Bukele, who claimed in a recent tweet that Bitcoin is still cheap. Taleb claimed that these people were “bitidiots.” According to the famous mathematician, Bukele continues to gamble with taxpayers’ money. El Salvador’s president, Bukele, reported earlier this week that he had purchased another 80 BTC.
The world’s largest cryptocurrency is trading at a level 72.33% lower than its peak. At the time of this writing, BTC is at $19,044 according to Coin Market Cap data.
In May, El Salvador’s Finance Minister, Alejandro Zelaya, dismissed the growing concerns about Bukele’s purchases of cryptocurrencies, explaining that they represent only a small part of the country’s annual budget.
*Not investment advice.