Investing.com – Economist Nouriel Roubini, also known as “Dr. Doom”, once again expressed his aversion to cryptocurrencies in an interview on Wednesday
Speaking at Yahoo Finance on the sidelines of the WEF in Davos, Roubini estimated that “literally 90% of crypto is a scam. Criminal activity”, speaking of “a total real bubble Ponzi scheme that will going bankrupt”.
The economist also spoke about the bankruptcy of FTX and the fall of Sam Bankman-Fried, saying that “FTX and SBF are not an exception – they are a rule”, adding that “most of these people should literally be in jail. Literally, they’re all crooks.”
Roubini also, without specifying his sources, pointed out that “out of 20,000 ICOs, 80% were officially scams, and 17% fell to zero”, thus calculating that 97% were sources of heavy financial losses for their investors.
“You must stay away [de la crypto]you absolutely have to stay away,” Roubini advised, pointing out that 99% of people who currently hold it bought it above the current price.
Asked about the blockchain technology itself, Roubini was skeptical, saying he “thinks it’s the most overrated technology ever”, calling it a “glorified database”. , and judging that we cannot “create trust solely on the basis of technology”.