Philosopher and author of the cult work “The Black Swan” Nassim Taleb criticized the first cryptocurrency and called it “the perfect game for losers” in an environment of low interest rates.
Hannibal ad portas.
So it turns out #BTC 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.
A perfect sucker game during low interest rates.
— Nassim Nicholas Taleb (@nntaleb) February 20, 2022
The bitcoin critic also used the Latin idiom “Hannibal ante portas”, meaning imminent serious danger and corresponding to the phrase “Enemy at the gates”.
“Bitcoin does not insure against inflation, falling oil prices and stocks. And of course, bitcoin does not hedge against geopolitical events – in fact, quite the opposite, ”Taleb wrote.
On February 21, the price of bitcoin broke through the $38,000 level. At the time of writing, the cryptocurrency market capitalization has fallen below $1.8 trillion, according to CoinGecko.
In May 2021, Taleb compared digital gold to a Ponzi scheme. In June, he criticized bitcoin and quarreled with members of the crypto community.
Recall that in February 2022, the co-founder of the Huobi exchange, Du Jun, predicted a bear market for the asset until the end of 2024.
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