Over the past few years, Nicholas has taken a negative view of Bitcoin. He said in March that even if Bitcoin reaches $100,000, it will be a failure
Nassim Nicholas Taleb, author of several popular books and former options trader, has taken a dig at crypto billionaire and Grayscale founder Barry Silbert about Bitcoin. He said Silbert is still waiting for Bitcoin to reach $100,000.
Nicholas posted a screenshot on Twitter in which Silbert joked that he was waiting for Nicholas to sell his bitcoins for $100,000. Over the past few years, Nicholas has taken a negative view of Bitcoin. He said in March that even if Bitcoin reaches $100,000, it will be a failure. He believes that Bitcoin has proven that it is not a hedge against inflation. Along with this, he said that the decline in the crypto market can last for a long time.
In contrast, Silbert has consistently supported Bitcoin. It is the largest cryptocurrency investment in terms of market capitalization. Bitcoin hit a high of around $69,000 in November last year. Since then it has declined significantly. Slowdown and other reasons have put pressure on its prices. Bitcoin has broken below a key support level after US Federal Reserve Chairman Jerome Powell signaled aggressive steps to tackle rising inflation.
The price of Bitcoin is below 20,000 dollars. Earlier it had gone below this level about two years ago. Due to the decline in the crypto market, the investors as well as the firms associated with this segment have also suffered heavy losses. Many crypto firms have taken measures such as layoffs to reduce costs. Some of these firms have even reached the verge of bankruptcy. Recently, market expert Jim Cramer also told investors to stay away from cryptocurrencies, non-fungible tokens (NFT) and special purpose acquisition companies (SPAC). He warned that investors may suffer huge losses from these assets. Cramer said, “I think we should also question the fundamentals of crypto.”