“Black Swan” Author Nassim Taleb has slammed Bitcoin for its volatility
Nassim Nicholas Taleb, who previously worked as a risk analyst and options trader, best known as the author of “Black Swan,” views Bitcoin less than optimistically, claiming that he has been getting rid of his holdings.
I’ve been getting rid of my BTC. Why? A currency is never supposed to be more volatile than what you buy & sell with it.
You can’t price goods in BTCIn that respect, it’s a failure (at least for now). It was taken over by Covid denying sociopaths w/the sophistication of amoebas
— Nassim Nicholas Taleb (@nntaleb) February 12, 2021
Taleb’s logic keys in on Bitcoin as a currency, not a store of value — though the latter has redefined the digital asset’s role in some ways in recent years, at least according to multiple crypto industry players.
Bitcoin is up almost 25 percent over during this blockbuster week alone. Year-to-date, it has already soared 64 percent.
Yet, Taleb is convinced that the world’s largest cryptocurrency is a “failure” despite its historic gains.
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