Vocal Bitcoin critic and a prominent economist at The Johns Hopkins University, Steve Hanke, has again taken to Twitter to slam the world’s flagship cryptocurrency – Bitcoin.
He has again stated that Bitcoin is highly speculative, warning the community against it. He added that BTC price is always offering investors and traders a ride on a rollercoaster.
In his tweet, Hanke posted a meme about Bitcoin, which depicts a dog that is only “sometimes friendly”.
#Bitcoin is a speculative asset. Its prices are always a rollercoaster ride. #Bitcoin is no exception. Fasten your seatbelt before entering, and enjoy the ride. pic.twitter.com/fqWNgbQODD
— Steve Hanke (@steve_hanke) October 9, 2021
Earlier this fall, Hanke criticized Bitcoin a few times as well, stating that its fundamental value stands at zero.
Back then he also claimed that BTC is volatile, lacks a good deal of certainty and is vulnerable to fraud.
As for the current Bitcoin’s upward movement, Hanke commented “what goes up, must come down”.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team