Wednesday, September 27

Bitcoin is a contagious disease and its investors are “suckers”, says Nassim Taleb

Nassim Taleb, author of books such as Black Swan and Antifragile, returned to attack Bitcoin this Monday (17) by claiming that cryptocurrency is a contagious disease. In addition, he called all investors suckers.

Although he has already defended Bitcoin, including writing the foreword to the Bitcoin Standard book, Taleb has changed his mind about the asset and has since been offending professionals who disagree with his opinion.

As an example, he called journalists and cryptocurrency investors stupid in October of last year. Previously, in May, he even offended Brazilian economist Fernando Ulrich.

Bitcoin is a disease, claims Nassim Taleb

Minutes before his main criticism, Nassim Taleb reposted an image in which he claims that the market is near its top because ordinary people are investing in cryptocurrencies.

Coincidentally, his post happened on the same day that Shiba Inu (SHIBA), the investor driver’s currency, reached its all-time high and began to lose value.

Taleb being ironic about it being a coincidence

Well, it is clear that investing in memecoins like Shiba is not a good recommendation and that BTC would be a better option. However, Taleb has to admit that the cryptocurrency market is very inclusive and that is great.

So much so that this adoption leads us to the next criticism made by Taleb. In the opportunity, he claims that Bitcoin is a disease that will spread much more before its price plummets.

“Bitcoin is like a contagious disease. It will spread and spread and its price will rise to saturation, meaning every sucker stupid enough to buy the story is investing. When all the suckers are involved, the prevailing belief will make this an “obvious” investment. That is the ultimate fragility.”

Nassim Taleb criticizing or Bitcoin.

With this argument, Taleb manages to have an argument not to bet against Bitcoin, signaling that its price still has a lot to grow.

Contagious disease or cure?

Although Taleb calls Bitcoin a disease, Bitcoin users believe that the digital currency is a cure for a sick monetary system whose main symptom is the loss of purchasing power of fiat currencies, namely inflation.

While some of his criticisms make sense at the moment, such as the fact that bitcoin is still more volatile than the goods and services it buys, it’s worth noting that BTC is still a new asset, thirteen years old, and no one is obligated. to accept it.

Finally, we hope that Bitcoin continues to attract more users as it did in 2021 and that they can protect themselves from actions taken by governments. After all, this is the best way out for people in countries that have weak currencies and experience periods of high inflation.