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‘Black Swan’ author Nassim Taleb says bitcoin is worth zero

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Nassim Nicholas Taleb, New York University professor and author

Jerome Favre | Bloomberg | Getty Images

Nassim Nicholas Taleb has reversed his stance on bitcoin.

The “Black Swan” author said in a recent paper that the largest cryptocurrency by market cap has failed to satisfy the notions of it as a currency without government, a hedge against inflation and as a safe haven investment.

“Few assets in financial history have been more fragile than bitcoin,” he said.

The Lebanese-American Taleb had previously spoken more favorably on bitcoin, particularly on its potential to help people circumvent capital controls in markets that rely on them to manage their exchange rates. He called it “the first…



Source cnbc.com

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