Famed Investor, Black Swan Author Is “Getting Rid Of” His Bitcoin, Here’s Why

2021-2-13 23:34

Bitcoin price is trading near $50,000 and the uptrend appears to be just now getting under way. So why then, is the author of the Black Swan, Nassim Nicholas Taleb choosing now to sell his BTC? His credentials also include options trader, mathematician and risk analyst. Is his warning something investors should seriously heed – or has he got it all wrong this time?

Black Swan Author Blasts Crypto Investors, Begins Selling Bitcoin

Nassim Nicholas Taleb upset the cryptocurrency community today when the Black Swan author revealed that he’s been “getting rid of” his BTC recently. According to Wikipedia, Taleb “is a Lebanese-American essayist, scholar, mathematical statistician, and former option trader and risk analyst, whose work concerns problems of randomness, probability, and uncertainty.”

If anyone is qualified to comment on Bitcoin, it is this man. However, his reasoning for why he’s dumping his coins doesn’t quite stack up. So why then is a cryptocurrency considered an “insurance policy against uncertainty,” triggering the risk analyst so much suddenly after being invested for some time? And why do it now when Bitcoin is trading at nearly $50,000?

RELATED READING | GLOBAL MACRO INVESTOR: THE STRONG PART OF BITCOIN UPMOVE HASN’T EVEN STARTED YET

Because he can’t buy good and services with it. According to Taleb, a “currency is never supposed to be more volatile” than what can be bought with it. In that respect, he says, Bitcoin has “failed.”

Taleb has had some choice words for the crypto community at large in the past, calling Bitcoiners “total idiots.” Today, he doubled down claiming that the cryptocurrency has now been taken over by “Covid denying sociopaths with the sophistication of amoebas.”

Why choose now to sell Bitcoin based on its volatility? | Source: BTCUSD on TradingView.com Could Nassim Nicholas Taleb Be Selling The Coin Short?

Taleb certainly has the credentials, but fails to see just how sophisticated Bitcoin’s design has been. Cory Klippsten, CEO of SwanBitcoinm, who named his company after Taleb’s book, attempted to clear the air around where Bitcoin adoption currently is headed.

RELATED READING | GRAYSCALE FOUNDER EXPECTS “A TIDAL WAVE OF CAPITAL” TO FLOW INTO CRYPTO

Klippsten outlines that the natural progression of adoption starts at store of value, moves into medium of exchange, and later becomes a unit of account. With the cryptocurrency still mid-way into its store of value phase, that value has plenty of room to climb.

As adoption takes place and the medium is exchanged more and more, the volatility that’s sending Taleb’s risk meter off the charts currently will eventually wane. At that stage, Bitcoin can become a more stable unit of account.

Featured image from Deposit Photos, Charts from TradingView.com origin »

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swan bitcoin getting black author sell btc

Источник: bitcoinist.com

swan bitcoin → Результатов: 37


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“Bitcoin Is The ‘Backdrop’ To A Failing US Dollar,” Says Wyoming Senator-Elect

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2020-12-16 00:38


Шесть самых распространённых мифов о биткоине

Биткоин (BTC) – это пузырь, слишком волатильный и не имеющий ценности – это одно из наиболее распространённых заблуждений, которое подметила популярный инвестор и советник приложения для BTC-инвестиций Swan Bitcoin Лин Олден.

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Bitcoin Setting Up For Another Bull Run After COVID-19 Pandemic ‘Killed’ the First Set-up: On-Chain Analyst

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2020-6-29 21:08


Investor Activity in Bitcoin Is ‘Fizzing Out’ As Market Undergoes A Black Swan Event

Earlier last month, Bitcoin broke above $10,000 that on-chain analyst Willy Woo said was the “real deal”. “Fundamental investment activity is backing this $10k breakout,” said Woo at that time. However, as we saw in the past few weeks, bitcoin has been acting like a risky asset following the stock market, going from above $10,500 […]

2020-3-10 17:14


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