US publicist, economist and trader Nassim Taleb has criticized Bitcoin on Twitter and has called it “entertainment for losers.” According to him, the cryptocurrency does not apply to hedging instruments and insurance against geopolitical risks. He has explained:
“Bitcoin is not a hedge against geopolitical events –actually the exact opposite.”
He has previously spoken out about crypto. In September 2021, he stated Bitcoin could only be of interest for speculative purposes. According to Taleb, those who call the cryptocurrency a means of hedging financial or any other risks are “scammers with help.”
In 2020, Taleb noted the technology of Bitcoin itself seems promising to him, but he called the followers of the main crypto “complete idiots.”
The economist pointed out in 2019 the strength of the cryptocurrency lies in the impossibility of its control. According to Taleb, financial pyramids can use digital money for deception.
