- Nassim Nicholas Taleb has compared bitcoin to a disease and called it worthless in recent months.
- “The Black Swan” author said the cryptocurrency was in a fragile, speculative bubble.
- Bitcoin isn’t a currency, store of value, inflation hedge, or haven for investors, Taleb said.
Nassim Nicholas Taleb has posted a bunch of incendiary tweets about bitcoin over the past six months. The author of “The Black Swan” and “Antifragile” has compared the most valuable cryptocurrency to an infectious disease, dismissed it as worthless, and said it doesn’t serve as a hedge against anything.
In the summer, Taleb said in an analysis dubbed the “Bitcoin Black Paper” that bitcoin wasn’t a currency, a store of value, an inflation hedge, or a haven from government tyranny or catastrophe. He has used Twitter to amplify his view that bitcoin is a fragile bubble built on speculation instead of genuine value.