In summary
- The black swan author Nassim Nicholas Taleb said he is getting rid of his Bitcoin.
- He cited volatility as a problem.
- Taleb has defended cryptocurrencies in the past.
Nassim Nicholas Taleb, The black swan author and frequent tweeter, wrote today that he is in the process of dumping his Bitcoin.
“A currency should never be more volatile than what you buy and sell with it,” he said. “You cannot set commodity prices in BTC.”
He also stated that the culture around Bitcoin was dominated by “Covid denying sociopaths [with] the sophistication of amoebas. “
It is an apparent 180 for Taleb, who has defended cryptography in the past. Last year, in response to a post about foreign currency restrictions in his home country, Lebanon, Taleb tweeted, “Use cryptocurrencies!”
He also collected some furious tweets on Coinbase said he planned to close his account.
In 2018, Taleb wrote a short article called “Bitcoin, ”In which he called the asset“ an excellent idea ”.
Earlier today, a Bitcoin devotee asked Taleb for more clarity on his new position and was met with a harsh response: