Author Nassim Taleb Says Bitcoin Is a Tumor

by in Cryptocurrency News

Nassim Taleb crypto

Nassim Taleb, the author of Black Swan, said in a recent interview that creating tumors like Bitcoin hurts the economy.

Related: Nassim Taleb called bitcoin maximalists "total idiots"

During Squawk Box, he expressed an opinion that we've had 15 - 14 and a half years of Disneyland that has destroyed the economic structure. According to Taleb, anyone who's around 40 years old has no experience in financial markets, and they don't know what the time value of money presents.

Talking about the policy of the US Fed, Taleb said they lowered interest rates too much. He finds that we need to go back to normal economic life. The author says people should learn what economic and monetary policy should be. According to him, the normal interest rate would be around 3% or 4%.

At the same time, Taleb mentioned that although we are observing a bear market, we are still far from stressors when investors lose their interest in BTC. He noted that Bitcoin is still in use and it trades at almost $20,000.