Bitcoin is highly controversial! Us “Dr. doomsday” tweets: bitcoin is wrong, bubble primitive people’s monetary system is better than it

Fx168 Financial News Agency (Hong Kong) – bitcoin has broken through the $50000 threshold. However, Nouriel Roubini, a well-known American economist known as “Dr. doomsday”, has not changed his earlier stance on bitcoin. He has published a tweet criticizing bitcoin as a mistake or a bubble. He even said that bitcoin is not a currency at all, and even the primitive people’s monetary system is better than it. (source: Twitter) Roubini first wrote that currency digitization is the return of barter, because there is no uniform number, which makes it impossible to compare the relative prices of different goods or services if each commodity needs a different cryptocurrency. In an interview with the Bloomberg survey, he also stressed that the emergence of a “help program” in the market helped bitcoin rise, but cryptocurrency will never be used as a means of payment for goods and services. And if you look at Ruby’s tweet, you can see that he put his twitter post on February 10 at the top, which quoted him in an interview with the financial times, saying: “bitcoin is not a hedge against risk. Elon Musk, the founder of Tesla, may be buying bitcoin, but that doesn’t mean everyone else should follow suit. Given its huge environmental costs, bitcoin’s basic value is negative. “ (source: Twitter) Roubini also pointed out that bitcoin mining consumes a lot of electricity resources, causing great damage to the global environment. He has previously explained that it is wrong to call bitcoin a currency, it is not a currency, it is not an account unit, it is not a payment method, it is not a stable value store. Second, he can’t even be said to be an asset. “Bitcoin has no intrinsic value. Assets like bonds, stocks, real estate or precious metals can provide investors with income, capital gains or some form of utility,” he added. But in the case of bitcoin, investors don’t get revenue. It’s a useless program, and the only thing is that it’s speculative, it’s self fulfilling, and it’s all driven by manipulation. ” In view of the fact that bitcoin has been loved by some investors in recent years, Roubini also further stressed that academic research shows that bitcoin, a pseudo stable coin tether, is made by law and is actually used to manipulate the price of bitcoin. “The price of bitcoin is completely manipulated by a group of people who look like whales, it has no basic value, and we are close to the moment when the hyperbolic bubble burst,” he said As of 13:48 Hong Kong time before the deadline, bitcoin prices rose by 5.35% to $52204.61. JPMorgan also warned of risks in the future as cryptocurrencies continue to rise. In its latest report, JP Morgan pointed out that unless the price fluctuation of cryptocurrency rapidly cools down, it is unsustainable to continuously push the price of bitcoin above $50000. Analysts also stressed that the current speculative capital flow is more affected. But there is clearly a different view in the market, says Anthony pompliano, co-founder and partner of Morgan Creek digital assets, that bitcoin could be worth $500000 by the end of the decade. He told CNBC in the us that he believes bitcoin will eventually become the global reserve currency, and the final market value may surpass gold. “Trillions of dollars have been injected into the economy, from individuals to financial institutions, looking for the best way to protect their assets, and I think they will eventually choose bitcoin,” pompriano continued. Bitcoin will become the kingdom of global reserve currency in the Internet age. ”

Leave a Reply

Your email address will not be published. Required fields are marked *