Turning the jacket over to Bitcoin? – Economist Nouriel Roubini, aka “Dr. Doom”, regularly promised Bitcoin (BTC) the apocalypse and found nothing but flaws. For the very first time, this staunch crypto-skeptic felt compelled to give the king of cryptos a compliment (or almost).
One more bullish sign for Bitcoin?
Well known for his fierce hatred of the cryptosphere, Nouriel Roubini even went so far as to compare cryptos to a stablecoin based on toilet paper and called Bitcoin the “mother of all scams and bubbles” before the US Senate (in 2018). .
However, in a recent interview with Yahoo Finance, the economist specializing in economic catastrophism had to end up admitting, half-word, a quality to Bitcoin. Who would’ve believed that ?
However, Dr. Doom hasn’t turned into a crypto enthusiast. Far from there ! The positive quality he recognizes in Bitcoin has indeed slipped between criticisms, such as:
“It is not a currency”, supposedly because it would not serve as a unit of account;
Its number of transactions per second cannot increase: “it has no scalability”.
His slight compliment to Bitcoin comes from its role as a safe haven:
Bitcoin may be a partial store of value, because unlike thousands of other cryptos that I call shitcoins, it cannot be easily devalued, since it has an algorithm that decides where it is. amount of bitcoins that is issued increases over time…. You can also trade and make a lot of money by riding the volatility of the bitcoin market.
Not so fast: Roubini considers that, anyway, everything will be crushed by the MNBCs
Didn’t you think Dr. Doom was going to end his interview on something positive anyway? As usual, he ends with a nightmarish economic vision, where central bank digital currencies (MNBC) have destroyed all other forms of money:
“Not only will you no longer need crypto, but you will no longer need Venmo (PayPal’s mobile payment service). You won’t even need a bank account anymore. You won’t even need a check (…). The big revolution that we are going to see in the next 3 years will be the digital currencies of central banks. They will crowd out all other digital payment systems. “
It is an economy entirely governed by the goodwill of the central banks, made all-powerful. Even though Halloween is over, Nouriel Roubini still knows how to give us visions of horror.
Obviously, anyone in the cryptosphere knows that Bitcoin was created from the ashes of the 2008 financial crisis, precisely to escape the banking cartel. Crypto-enthusiasts are therefore unlikely to return to this dependence with MNBCs. But what do you want? You don’t turn an apocalypse preacher into a Bitcoin apostle overnight.