In yet another attack on the cryptosphere, Bitcoin and cryptocurrency sceptic Nouriel Roubini has labelled individuals involved in the emerging industry as “total zealots and fanatics”.
In an interview titled “The Mother and Father of All Bubbles” conducted by the CFA Institute, Roubini said that “the whole crypto space is one of assets that are not really money. They’re not really a currency. They’re not a scalable means of payment. They’re not stable in terms of a store of value”.
The venting went on as the self-endorsed “Dr Doom” displayed his overwhelming distaste for the crypto asset class and all who are involved in it.
He said: “I engage on Twitter and I also have attended many of these crypto or blockchain conferences. I met some of these individuals, and I must say I’ve never seen in my life people who are so arrogant in their views, who are total zealots and fanatics about this new asset class.”
Not backing Jamie Dimon
Roubini has also recently been tweeting about the launch of the JP Morgan stablecoin JPM Coin, which he believes is not a cryptocurrency.
He stated: “The new alleged JP Morgan crypto coin [does not have] anything to do with blockchain/crypto. It is private not public, permissioned not permissionless, based on trusted authorities verifying transactions not trustless, centralised not decentralised. Calling it crypto is a joke.”
The long tirade on the pitfalls of the token-based, decentralised economy from Roubini seems almost like abuse and an attempt to shill the debt-based, centralised fiat economy.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.