$BTC

Nassim Nicholas Taleb does not beat around the bush. In his latest article, he accuses bitcoin of not arising from any economic necessity.

For him, BTC follows a trend more than a real utility. He often compares the phenomenon to the 17th-century tulip bubble. Thus, he suggests that the value drops as soon as the enthusiasm fades.

For Taleb, bitcoin lacks monetary foundation. He laments the absence of state recognition as a means of payment.

According to him, the price would approach zero outside of speculation. He believes that states have never adopted this asset to pay bills. Therefore, cryptocurrency would be confined to a mere object of financial betting.

Finally, he points out the extreme volatility of bitcoin. He mentions sharp fluctuations exceeding 50% in a few days.

For him, this instability rules out any hedge against a systemic collapse. He rejects the idea of a safe haven. In fact, he dubbed it "idiot detector" in a previous article.