Bitcoin has gained significant media attention in recent days, in line with its price ascension to nearly $l,000, the institutional implications of Tesla's contempo $one.5B purchase. Nassim Nicholas Taleb, who previously worked every bit a risk annotator and options trader, views Bitcoin (BTC) less than optimistically, however.

"I've been getting rid of my BTC," Taleb said in a tweet on Friday, as reported by BNN Bloomberg. "Why? A currency is never supposed to be more volatile than what you lot buy & sell with information technology," he explained, also noting:

"You tin can't price appurtenances in BTC. In that respect, information technology's a failure (at least for at present). It was taken over by Covid denying sociopaths w/the composure of amoebas."

Taleb'south logic keys in on Bitcoin as a currency, non a store of value — though the latter has redefined the digital nugget'due south role in some means in recent years, at least according to multiple crypto industry players. Some folks, such equally Bitcoin Greenbacks (BCH) advocate Roger Ver, have argued that BTC was meant to serve as a payment method. Ver frequently posits that Bitcoin's current framework does not allow for such a transactional role, echoing some of Taleb's concerns.

Gold advocate and finance commentator Peter Schiff also often speaks out against Bitcoin, although a growing number of mainstream companies obviously remember differently, seeing value in the digital nugget.

I of Bitcoin's biggest recent proponents, MicroStrategy CEO Michael Saylor, views Bitcoin every bit a method of preserving value while other assets and currencies get worth less.