.nntaleb has launched a blistering critique of Bitcoin
is not a hedge against inflation, not a hedge ag. oil squeezes, not a hedge ag. stocks. And, of course, Bitcoin is not a hedge against geopolitical events --actually the exact opposite.Taleb, who once admired the original cryptocurrency, made a complete U-turn last February, declaring the leading cryptocurrency a failure. On Feb.
Taleb hasn’t softened his stance on Bitcoin after riling up the cryptocurrency community with his scathing comments. Last June, he published a paper called “Bitcoin, Currencies, and Bubbles," in which he presented his bearish case for the largest cryptocurrency. Despite praising the crypto king for not being controlled by any government in the past, the former options trader asserted that it had failed both as a currency and an inflation hedge.
In December, he said that Bitcoin was a “clunky” and “obsolete” product of low interest rates, predicting that it will collapse due to high inflation. Last month, Taleb described Bitcoin as a contagious disease.
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