© Reuters. The author of ‘Black Swan’ calls Bitcoin a Ponzi scheme
- Nassim Taleb doubled Bitcoin as a Ponzi scheme and as a failed currency.
- Some analysts view Bitcoin as a hedge against inflation.
- Taleb said there is no connection between inflation and bitcoin.
Black Swan writer Nassim Taleb reiterated his stance that Bitcoin is an open Ponzi scheme and a failed currency, according to a CNBC interview last Friday.
Taleb said to Squawk Box:
“There is no connection between inflation and Bitcoin. I mean, you can have hyperinflation and Bitcoin will go to zero. There is no connection between them. “
Taleb added that he was deceived into being an alternative to fiat currency. But he suggested that a currency that has no government support is “just speculation” and a “game”. To elaborate on this, he said that Bitcoin had failed in its supposed role as a replacement for government-backed money, mainly because of its volatility
However, some analysts consider Bitcoin, which is often referred to as digital gold, to be …
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