general

‘Black Swan’ author gloats and comments about the recent Bitcoin crash

‘Black Swan’ author gloats and comments about the recent Bitcoin crash

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer ‘Black Swan’ author gloats and comments about the recent Bitcoin crash

Lebanese-American mathematical statistician and writer Nassim Nicholas Taleb could not resist the temptation to plummet Bitcoin amid a violent sell-off.

In a scathing tweet, the author of “Black Swan” advised those who still view the world’s leading cryptocurrency as a hedge to ditch investing and venture into Bitcoin, head for stamp collecting or better birdwatching.

Earlier yesterday, bitcoin fell to $53,524 on the Bitstamp trading platform, the lowest level since early October, due to growing panic over the novel coronavirus variant.

The cryptocurrency, which is often described as an uncorrelated asset, has fared worse than some airline stocks ever before, crashing more than 9%.

At the start of the pandemic, Bitcoin halved badly on March 13, 2020, with critics deriding it as a “safe haven”.

Then the cryptocurrency managed to make an impressive recovery.

Many believe it was boosted by massive quantitative easing.

According to Taleb, this proves that Bitcoin cannot act as a hedge against systemic risk because it has corrected more than the stock market.

In July, Bitcoin critic Taleb saw Bitcoin as among the “fragile” assets throughout history, predicting that it will hit zero over time.

Bitcoin Cash:

Even some of the biggest Bitcoin proponents are not looking at the top cryptocurrency as a hedge yet.

During an appearance on CNBC, Anthony Scaramucci, president of SkyBridge Capital, whose fund holds more than $1 billion in bitcoin, said it remains subject to volatility and uncertainty, comparing bitcoin to Amazon in its early 2000s, adding:

Read:After the rapid decline of Bitcoin: Liquidation of $ 300 million of leveraged holders in one hour

I don’t think it’s a hedge against inflation at this point in time.

Read also:

After the rapid decline of Bitcoin: Liquidation of $ 300 million of leveraged holders in one hour

Founder of FTX: Solana is determined to become the largest decentralized finance platform DEFI


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
Bitcoin wraps up its worst day since September…Details here
Next post
Tanzania prepares to launch its central bank digital currency CBDC