Investing.com – Investor Nassim Taleb, author of the best-selling “Black Swan,” reiterated his criticism of the cryptocurrency and the crypto market in general late last week, calling it a “cult” that isn’t even good at facilitating money laundering.
“It’s not even good for money laundering,” he said of BTC, pointing out that “it’s too easy to trace.”
“Gold can be remelted [en] bars, you can do anything, but bitcoin has an entry in a book somewhere that anyone with basic knowledge of statistics can triangulate,” he added.
Taleb also felt that the cryptocurrency craze has turned into a cult following for some:
“It turned into a cult. This is probably the first time in history that we’ve mixed money and cults,” Mr. Taleb told Bloomberg.
“Usually you worship with yoga… worship with music, but here it’s worship with a financial product. These things don’t go well together, because finance has gravity rules that end up harming this model,” he explained.
He also brushed aside Bitcoin’s claim to be a haven from governments and authority, saying crypto “don’t even attract the bad guys anymore.”
Finally, Taleb also told Bloomberg that the Federal Reserve could end cryptocurrencies at any time and will replace bitcoin next month, referring to FedNow, an instant payment service the Federal Reserve plans to implement. in place in July.
This service will allow individuals and businesses to transfer money in real time and access funds in seconds, according to the Fed, potentially reducing the interest in using cryptocurrencies for money transfers. money.