Nassim Taleb, author of ‘Black Swan’, in his latest tweet cryptocurrency in the industry NFT He said that his madness was slowly beginning to end.
“Rising Interest Rates Will Burst the Bubble in Sectors Like NFT”
Lebanese-American mathematical statistician claimed that rising interest rates in the USA would cause the NFT bubble to burst. The monetary tightening policy implemented by the FED is expected to put pressure on risky assets.
Taleb backed this up when Jack Dorsey’s first Tweet NFT lost almost all of its value.
The NFT thingy is starting to burst. All you need is higher interest rates for things that make no sense to start making no sense.
“Jack Dorsey Tweet NFT Once Sold for $2.9 Mil, Now Might Fetch Under $14K”.
— Nassim Nicholas Taleb (@nntaleb) April 16, 2022
Sina Estavi Paid $2.9 Million In Cryptocurrency For Dorsey’s Tweet
Cryptocurrency entrepreneur Sina Estavi paid $2.9 million to Dorsey’s first Tweet in March of last year. Ethereum It made a big noise by paying.
The proceeds from the Tweet, which was auctioned on the Valuables platform run by Cent, were donated by Dorsey to charities.
However, Estavi had recently announced in his decision that he wanted to sell this rare NFT. Estavi had put the NFT up for sale for $48 million.
The auction opened by the famous entrepreneur to sell his NFT soon turned into a disaster for him. Estavi was ridiculed when the maximum bid for NFT, which was purchased for $2.9 million, was $288 and had to remove the $48 million opening price.
Among the later bids, the highest price was $18,221. This means that the NFT in question has lost 99% of its value.
Estavi told Reuters that he did not want to sell this NFT to anyone because he believed it was the Mona Lisa of the digital world.
*Not investment advice.