Nassim Taleb, economist and author of the bestseller “Black Swan” has again spoken out against the cryptocurrency industry. He said that investing in bitcoin has become like a cult and a cult.
During the Bloomberg Invest conference, Nassim Taleb noted that bitcoin gathers fanatics around itself, and such behavior rarely ends well in the pragmatic world of finance.. Taleb also noted that even for criminals, the first cryptocurrency is useless because of the complete transparency of the blockchain.
“I have been critical of bitcoin for quite some time for several reasons. But one of them, you’ll never guess, I think is the impossibility of money laundering. Transactions are too easy to trace – they are just records in a distributed registry that anyone can see. And even gold bars can be melted down. In addition, bitcoin has become a cult and it seems that for the first time in history we have mixed money and a cult, and these things do not go well together,” the financier said.
Taleb also doesn’t see much use for bitcoin transactions – they’re too slow and expensive. The Fed, in his opinion, can easily replace the first cryptocurrency. Therefore, he would not advise to consider BTC as a means of savings and accumulation.
Earlier the economist called bitcoin “a perfect game for suckers” and said that investments in the first cryptocurrency will not save from inflation.<br