Bitcoin has received significant media attention in recent days with prices rising to nearly $ 50,000 and the institutional ramifications of Tesla’s recent $ 1.5 billion acquisition. Nassim Nicholas Taleb, who previously worked as a risk analyst and options trader, thinks Bitcoin (BTC) is less optimistic.
“I got rid of BTC,” one student said in a tweet on Friday, as reported by BNN Bloomberg. Why? He explained that a currency should never be more volatile than what you buy and sell with it, and also notes:
“You cannot value goods in bitcoin. In this respect, it is a failure (at least for the time being). It was taken over by Covid and abandoned by sociopaths as the amoeba developed. ”
Keys to student logic in Bitcoin as a currency, not a store of value – although the latter has defined the role of digital assets in a certain way in recent years, at least according to many players in the crypto industry. Some people, such as Roger Ver, a spokesman for Bitcoin Cash (BCH), argued that BTC should be a payment method. Veer often suggests that Bitcoin’s current structure does not allow for such a role in transactions, reflecting some of the concerns of students.
Gold lawyer and financial columnist Peter Schiff often opposes Bitcoin, although more and more large companies are thinking differently and seeing value in digital assets.
Michael Saylor, CEO of MicroStrategy, which has been actively supporting Bitcoin lately, sees Bitcoin as a way to keep value while other assets and currencies become less valuable.