Nouriel Roubini on Bitcoin
The NYU economist who saw 2008 coming has called Bitcoin the mother of all bubbles and told the US Senate that crypto is the mother of all scams.
Every Nouriel Roubini Bitcoin quote
The Fundamental Value Of Bitcoin Is Zero
“Since the fundamental value of bitcoin is zero and would be negative if a proper carbon tax was applied to its massive polluting energy-hogging production, I predict that the current bubble will eventually end in another bust... Risky, volatile bitcoin doesn’t belong in the portfolios of serious institutional investors.”
Insider
Dec 24, 2020 · $23,730The Price Of Bitcoin Is Totally Manipulated
“The price of Bitcoin is totally manipulated by a bunch of people, by a bunch of whales. It doesn’t have any fundamental value,” he said. “We’re close to the point where the hyperbolic bubble is going to go bust.”
Yahoo
Nov 26, 2020 · $17,182Bitcoin Has No Role In Institutional Or Retail Investors Portfolios
“Bitcoin has no role in institutional or retail investors portfolios. It is not a currency: not an unit of account, not a scalable means of payment & is a highly volatile store of value.”
It Will Get To Zero In Due Time
“Indeed Bitcoin is now down below 10k. Has lost a third of its value in less than a week. Still a long way to less than zero as its true value is negative not zero given its toxic externalities! It will get to zero in due time.”
The Big Blockchain Lie
“No serious institution would ever allow its transactions to be verified by an anonymous cartel operating from the shadows of the world’s authoritarian kleptocracies. So it is no surprise that whenever “blockchain” has been piloted in a traditional setting, it has either been thrown in the trash bin or turned into a private permissioned database that is nothing more than an Excel spreadsheet or a database with a misleading name.”
Project Syndicate
Oct 11, 2018 · $6,177Dr. Doom Says Bitcoin Represents The Mother Of All Bubbles
“It is clear by now that bitcoin and other cryptocurrencies represent the mother of all bubbles…”
MarketWatch
Mar 5, 2018 · $11,433Bitcoin Is Based On The Blockchain Pipe Dream
“In reality, blockchain is one of the most overhyped technologies ever. For starters, blockchains are less efficient than existing databases. When someone says they are running something on a blockchain, what they usually mean is that they are running one instance of a software application that is replicated across many other devices.”
The Guardian
Feb 2, 2018 · $8,828Roubini Says Bitcoin Is The ‘Biggest Bubble In Human History’
“Bitcoin is the “biggest bubble in human history” and this “mother of all bubbles” is finally crashing.”
Bloomberg
How the predictions aged
Professor of economics at New York University’s Stern School of Business, known for warning of the 2008 financial crisis before it happened. He testified against cryptocurrency before the United States Senate in 2018. The first entry here is from February 2, 2018, when Bitcoin was $8,828. The latest is from February 10, 2021, at $44,856. Bitcoin at the time of the most recent obituary in this database was about 9 times its price at the first criticism.