Bitcoin has continued to soar in recent months, and even tesla CEO Elon Musk is bullish on the future of bitcoin, announcing a $1.5 billion investment in bitcoin, pushing up the price of the currency. But Nassim Nicholas Taleb, a professor at New York University who is famous for his book “The Black Swan Effect,” revealed on the 13th that he is getting rid of bitcoin because he believes the currency should not be more volatile than commodity prices.
Nassim Nicholas Taleb, author of “The Black Swan Effect
Bloomberg reports that Taleb, a former options trader, revealed on Twitter on the 13th that he has been shedding bitcoin because he believes that “1 currency should not be more volatile than the price of the commodity you’re trading it for. You can’t take bitcoin and price a commodity. Therefore, bitcoin has failed (at least so far).”
In another tweet, Taleb also said that bitcoin cannot be a hedge against central bank policies.
Bitcoin’s current price is $47,870, up 1.66% in 24 hours, according to Coindesk data, and Bitcoin’s current market cap is $891.6 billion.
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