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Nicholas Taleb Still Doesn’t Think Much of BTC

Summary:
Bitcoin is a big asset. It’s got legions of fans all over the world, and it appears to be taking a higher level of precedence in U.S. national politics and similar arenas. However, it’s become clear over time that the world’s biggest and most popular digital asset isn’t going to attract positive attention from everyone, and one of its biggest haters – Nassim Nicholas Taleb, the author of the novel “Black Swan” – has consistently made it clear he’s not a fan. Nicholas Taleb Doesn’t Care for BTC Not long ago, Taleb came out to do another interview about how bad and weak he considers bitcoin to be. He stated that not only does it not help anyone accomplish anything good, but it also doesn’t even do much for those with illicit intent. He says it’s not a “safe

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Bitcoin is a big asset. It’s got legions of fans all over the world, and it appears to be taking a higher level of precedence in U.S. national politics and similar arenas. However, it’s become clear over time that the world’s biggest and most popular digital asset isn’t going to attract positive attention from everyone, and one of its biggest haters – Nassim Nicholas Taleb, the author of the novel “Black Swan” – has consistently made it clear he’s not a fan.

Nicholas Taleb Doesn’t Care for BTC

Not long ago, Taleb came out to do another interview about how bad and weak he considers bitcoin to be. He stated that not only does it not help anyone accomplish anything good, but it also doesn’t even do much for those with illicit intent. He says it’s not a “safe haven” like everyone thinks, and he doesn’t even think it’s good for money laundering or similar crimes. Taleb stated:

I actually have been a critic of bitcoin for reasons like my principal reason. Well, guess what? It’s not even good for money laundering. It is too traceable. Bitcoin is a book entry somewhere that anyone with basic knowledge and statistics can triangularize. The second one is that it was transformed into a cult. The first time in history, probably, we’re mixing money and [a] cult. Here’s a cult with a financial product. These things don’t go together very well.

In past discussions, Taleb has referred to bitcoin as a “tumor.” In other words, he doesn’t think highly of it, and unfortunately, he’s not the only one. Rich men like Warren Buffett – the CEO and founder of Berkshire Hathaway, one of America’s largest real estate giants – has commented in the past that he thinks bitcoin is “rat poison squared,” and it’s likely he’ll never get involved in the crypto arena.

Over the past several years, bitcoin has had something of a mixed run. One of the biggest problems surrounding the bitcoin space is the fact that the currency remains as volatile as ever. One can never truly predict when (or where) it’s going to move, and this has become a major issue for skilled, eager investors looking to do well.

Up and Down, Up and Down

There have been instances, such as in 2018 and 2022 (the years of two huge crypto crashes), in which investors lose everything they have. Instances like these don’t paint the industry in the cleanest light.

Still, one can make the argument that the arena has come a long way in very little time. When one considers the fact that bitcoin is only 14 years old (it was first mined in January of 2009), it can’t help but be admired, and the technology behind it has given rise to several new financial fads.

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