Believing that the current crypto winter is different from the previous ones, New York university economics professor and author of the book "Black Swan" Naseem Taleb made an ambitious statement for Bitcoin (BTC).
Famous mathematician and author Nassim Taleb claims that even if Bitcoin (BTC), the world's largest cryptocurrency, rises above $ 100,000 in the next bull market, it will still fail.
“Bitcoin Fails as an Inflation Protection Tool”
Nassim Taleb explained that he thinks so because Bitcoin (BTC), the leader of the cryptocurrency world, has failed to protect against inflation. According to Taleb, Bitcoin (BTC) acts the opposite of this feature. Taleb believes that the ongoing cryptocurrency winter could literally turn into an "ice age," meaning prices won't be able to recover for a long time.
Taleb also targeted names like El Salvador President Nayib Bukele, who claimed in a recent tweet that Bitcoin (BTC) is still cheap. Taleb claimed that these people were “bitidiots.” According to the famous mathematician, El Salvador's president Bukele continues to gamble with taxpayers' money. El Salvador's president, Bukele, reported earlier this week that he had purchased another 80 Bitcoin (BTC).
The world's largest cryptocurrency is trading at a level 72.33% lower than its peak. At the time of writing this news, BTC is at $ 19,043 according to Coin Market Cap data. Consolidation on the Bitcoin (BTC) side has failed to gain strength, the weak trend continues. At this stage, it can be said that the psychological support level, which was $20,000 in the past weeks, has been updated to $19,000.
In May, El Salvador's Finance Minister, Alejandro Zelaya, dismissed the growing concerns about Bukele's purchases of cryptocurrencies, explaining that they represent only a small part of the country's annual budget.