Former risk analyst explains why he’s selling his Bitcoin

Bitcoin has gained massive media attention in recent days, in line with its price hike to nearly $ 50,000, and the institutional implications of Tesla’s recent $ 1.5 billion purchase. Nassim Nicholas Taleb, who previously worked as a risk analyst and options trader, finds Bitcoin (BTC) less optimistic.

Student “I got rid of my BTC” She said In a tweet on Friday, as reported by BNN Bloomberg. “Why? A currency should never be more volatile than what you buy and sell,” he explains, also noting:

“You can’t price goods in bitcoin. In that regard, it’s a failure (at least for now). It’s taken over by Covid and its denial of sociopaths as amoebas evolve.”

Keys to student logic in Bitcoin as a currency rather than as a store of value – although the latter has redefined the role of digital assets in some ways in recent years, at least according to many players in the crypto industry. Some people, like Bitcoin Cash (BCH) that advocates Roger Ver, have them Argued That BTC was meant to be a payment method. Veer very much Supposedly The current Bitcoin framework does not allow for such a transactional role, echoing some of Talib’s concerns.

Gold advocate and financial commentator Peter Schiff often speaks out against Bitcoin, although an increasing number of major companies think differently and see value in digital assets.

Bitcoin’s biggest supporter, Michael Saylor, CEO of MicroStrategy Corporation, sees Bitcoin as a way to preserve value while other assets and currencies become less valuable.