{"id":15904,"date":"2024-08-07T15:20:46","date_gmt":"2024-08-07T12:20:46","guid":{"rendered":"https:\/\/forklog.com\/en\/nassim-taleb-criticizes-bitcoin-as-ineffective-market-crash-hedge\/"},"modified":"2024-08-07T15:20:46","modified_gmt":"2024-08-07T12:20:46","slug":"nassim-taleb-criticizes-bitcoin-as-ineffective-market-crash-hedge","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nassim-taleb-criticizes-bitcoin-as-ineffective-market-crash-hedge\/","title":{"rendered":"Nassim Taleb Criticizes Bitcoin as Ineffective Market Crash Hedge"},"content":{"rendered":"<p>The recent market downturn has highlighted the inadequacy of the leading cryptocurrency as a hedge against systemic collapse, according to author and scholar Nassim Taleb in an interview with CNBC.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/Mib9r7jINW0?si=t42sprTh_GxYUdnz\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Bitcoin has once again proven that it does not protect against the melting of your assets,&#8221; noted the author of &#8220;The Black Swan.&#8221;<\/p>\n<\/blockquote>\n<p>On August 5, digital gold fell to $49,000 amid a stock market crash. That day, the S&#038;P 500 index plummeted over 5%, while Japan&#8217;s Nikkei dropped approximately 12%. However, Bitcoin&#8217;s 18% decline was even more pronounced.<\/p>\n<p>Taleb argues that the leading cryptocurrency has underperformed other financial instruments because it is a &#8220;speculative asset that behaves like expensive Manhattan real estate&#8221; and primarily exists to &#8220;track the stock market.&#8221;<\/p>\n<p>In terms of preserving value, the author praised gold as an excellent medium:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If you bury a gold chain in the ground for 10,000 years, it will still be gold.&#8221;<\/p>\n<\/blockquote>\n<p>Previously, Goldman Sachs CEO David Solomon suggested that Bitcoin could become a &#8220;store of value.&#8221;<\/p>\n<p>Earlier, after the correction, Ethereum team lead P\u00e9ter Szil\u00e1gyi expressed his disappointment with the crypto industry, comparing it to a casino.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recent market downturn has highlighted the inadequacy of the leading cryptocurrency as a hedge against systemic collapse, according to author and scholar Nassim Taleb in an interview with CNBC. &#8220;Bitcoin has once again proven that it does not protect against the melting of your assets,&#8221; noted the author of &#8220;The Black Swan.&#8221; On August [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1649,1138],"class_list":["post-15904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-nassim-taleb","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15904"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15903"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}