Bitcoin critic Nassim Taleb has termed the crypto asset as an open Ponzi scheme and failed currency, reports Markets Insider. Taleb, who is the “Black Swan” author, has downplayed any link between inflation and bitcoin.
Taleb’s comments comes at a time investors see bitcoin as a hedge against inflation.
Taleb says the best strategy for investors is to own assets that generate yields in future.
The “Black Swan” author says bitcoin has failed in its supposed role of replacing government backed money due to its volatility.
Taleb refers to any currency not backed by the government such as bitcoin as speculative and “a game.”
Bitcoin is currently gaining. BTCUSD is up 7.07%
