Renowned writer and analyst Nassim Nicholas Taleb disagreed with Jordan Peterson’s view on Bitcoin (BTC), again taking a stand against the cryptocurrency.
It all started after the Daily Mail reported that ANZ, one of Australia’s major banks, intended to restrict cash withdrawals at some of its branches. The institution also intends to reduce the number of ATMs available in the country, with the aim of reducing the amount of paper money in circulation.
Although much of the population already uses digital means to move their money, the decision has drawn criticism. For many, the bank would impede access for the elderly and other cash-dependent groups.
In answer To a tweet from Wall Street Silver on the case, which claimed that the extinction of cash was near – especially with advances in CBDCs – Jordan Peterson said that Bitcoin would be the solution to this problem. The comment did not go unnoticed by his supporters, especially Taleb.
The “Bitcoin Cartel”
On his profile on the social network, the author of the bestseller The Logic of the Black Swan advised his followers not to believe Peterson’s vision on Bitcoin, even questioning his knowledge of finance. The Lebanese-American even hinted that the psychologist and also renowned author would have personal reasons to benefit from the popularization of cryptocurrency:
“I didn’t feel compelled to come in and explain that Peterson Talks Finance is a little less sophisticated than a committee of Canadian anti-vaxx truckers lecturing on quantum field theory. But I must warn young victims that Peterson belongs to the Bitcoin Cartel.
In fact, Jordan Peterson has been a BTC enthusiast, stating in late 2021 that he was investing in the asset to hedge against a potential dollar inflation crisis. However, there is no indication that he has as one of his main goals to propagate cryptocurrency, with the phrase “Bitcoin Cartel” being seen as another of Taleb’s acidic comments to those who think otherwise. to hers.
Nassim Taleb: From Bitcoin Enthusiast to Critic
Interestingly, it can be said that Nassim Taleb himself was once a member of the Bitcoin Cartel. In 2019, he even said he preferred investing in the asset rather than buying stocks and government bonds.
However, the financial guru changed his stance on the asset the following year after a clash with Coinbase. At the time, he said that the team at America’s largest stock exchange failed to help him with some technical issues.
He has since become a staunch critic of BTC, saying the cryptocurrency has failed and is incapable of acting like money. Furthermore, he said the asset cannot be considered a store of value, as its value fluctuates “just like the other elements of the bubble”.
In May 2021, Taleb was leading a discussion with Fernando Ulrich, even calling the Brazilian economist an “idiot”. Despite apologizing for the offense, he continues his saga against cryptocurrency.
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