Regardless of any particular government or country, Bitcoin is often classified as a valuable asset and a hedge from other financial areas, but Nassim Taleb, a former risk analyst and author, thinks otherwise.
In an interview with CNBC on Friday, noting the similarities between Bitcoin (BTC) and the Ponzi scheme, Taleb said: “There is no link between inflation and currency. Not”.
“I mean you can have hyperinflation and bitcoin will drop to zero. There is no connection between them. ”
This is not the first time a student has expressed doubts about Bitcoin. Earlier this year, he mentioned the sale of his BTC assets and raised concerns with their volatility. However, he based his position on Bitcoin as a currency and not as a store of value – a role in which assets have changed over the years.
However, it looks like Talib fully appreciates the technology behind BTC. “It’s a beautifully designed encryption system,” he told CNBC. “It’s done well, but there is absolutely no reason to associate it with anything financially,” he added.
If you want to protect yourself from inflation, buy a plot. I don’t know, I grow olives on it. As you know, you need olive oil. If the price crashes, you have something. But Bitcoin, there is no connection. ”
He described the importance of owning cash-generating vehicles and pointed to Bitcoin as a gimmick. Taleb also made other comments about bitcoin in interviews, including talking about currencies versus speculative assets.
In 2020, Taleb called most bitcoin advocates stupid, citing their ignorance of economic topics.