Bitcoin has received significant media attention over the past few days, in line with its price increase to nearly $ 50,000, the institutional implications of Tesla’s recent purchase of $ 1.5 billion. However, Nassim Nicholas Taleb, who previously worked as a risk analyst and options trader, considers Bitcoin (BTC) less than optimistic.
“I got rid of my BTC,” Taleb said in a tweet Friday, as reported by BNN Bloomberg. ‘Why? A currency is never supposed to be more volatile than what you buy and sell with it, ‘he explained, noting:
‘You can not price goods in BTC. In that respect, it’s a failure (at least for now). It was taken over by Covid who denied sociopaths with the refinement of amoebas. ”
Taleb’s logic includes Bitcoin as a currency, not as a value store, although the latter has redefined the role of the digital asset in some ways over the past few years, at least according to several players in the crypto industry. Some people, like Roger Ver’s lawyer for Bitcoin Cash (BCH), have argued that BTC was intended to serve as a payment method. Far often positions that the current framework of Bitcoin does not allow such a transaction role, and this reflects some of Taleb’s concerns.
Gold lawyer and financial commentator Peter Schiff also often speaks out against Bitcoin, although a growing number of mainstream businesses naturally think differently and see value in the digital asset.
One of the biggest recent proponents of Bitcoin, the CEO of MicroStrategy, Michael Saylor, views Bitcoin as a method of retaining value while devaluing other assets and currencies.