Main navigation

Nassim Taleb Calls Bitcoin Detector of Imbeciles

Wed, 01/04/2023 - 15:06
article image
Alex Dovbnya
Nassim Taleb suggests that crypto's success has been largely caused by almost nonexistent interest rates, which have pushed people toward speculation instead of 'real finance'
Nassim Taleb Calls Bitcoin Detector of Imbeciles
Cover image via
Read U.TODAY on
Google News

Nassim Nicholas Taleb, the acclaimed author of "Black Swan," recently shared his thoughts on Bitcoin in an interview with L'Express, describing it as "the detector of imbeciles."

Taleb believes that Bitcoin has failed to meet its goal of becoming a decentralized currency and store of value.

According to Taleb, it is vulnerable to inflation and cannot protect against black swan events.

The craze surrounding cryptocurrencies can be attributed to near-zero interest rates as investors wanting risk-free investments find their opportunities limited. Hence, this was pushing people toward speculation instead of "real finance."


He additionally remarked on what could be described as a lingering Ponzi-like mentality taking hold in the tech world, referring to companies with no cashflow and without any underlying financial stability.

Initially, Taleb was somewhat favorably inclined toward crypto because he was critical of the monetary policy enacted by former Federal Reserve Chair Ben Bernanke after the 2008 crisis. However, he now believes that digital currencies are increasingly attractive to manipulators and scammers, who have found refuge preying on unsuspecting investors fooled by promises of easy and excessive gains.

That being said, if the system one day manages to become regulated and more serious and honest, it is conceivable that digital money could be an alternative to traditional finance.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at