Financial expert: „Bitcoin investors are covidiotes with an understanding of a single cell“
According to the reading of the former risk analyst, Bitcoin „failed“.
In the past few days, Crypto Engine has also caused a stir in the media, because after the car maker Tesla made a massive investment of 1.5 billion US dollars in the crypto currency, its price suddenly swung towards US 50,000 -Dollars on.
Nassim Nicholas Taleb, a former risk analyst and financial expert, doesn’t share this optimism
„I’m selling my Bitcoin again,“ as Taleb wrote in a tweet yesterday . BNN Bloomberg also reports on the author’s criticism, who argues that „a currency should not fluctuate more violently in value than the goods you buy and sell with it“. To this end, he cynically adds:
“You can’t map goods prices in BTC. So in this respect it has failed (at least as of now). Bitcoin has meanwhile been taken over by Covidiotes who understand a single cell. „
Taleb’s argument is based on the function of Bitcoin as a currency or means of payment, which in his opinion does not exist. Many crypto experts admit this, but attest that the market-leading crypto currency has a function as a store of value. Some heads of the crypto industry as Roger Ver, the proven advocate of Bitcoin offshoot Bitcoin Cash ( BCH ) is, in turn, support the reading of Taleb, by hold on to it , that Bitcoin was originally conceived as a means of payment.
The notorious critic Peter Schiff also repeatedly fires against Bitcoin for similar reasons, although even large mainstream companies are now investing in the leading crypto currency
For example, Michael Saylor, CEO of the large software manufacturer MicroStrategy, is completely convinced that Bitcoin is suitable as a store of value, which is why he and his company are one of the pioneers in investing in cryptocurrency.