Nouriel Roubini Says Stubborn Bitcoin Investors Are “Absolutely Clueless” ‘Zealots and Fanatics’
Nouriel Roubini is one of the most active critics of the cryptocurrency community and Bitcoin (BTC). He has been attacking the most popular digital asset and the community as a whole.
The economics professor at the New York University, who successfully predicted the 2008 financial crisis, said that Bitcoin is a parabolic bubble and that Bitcoin investors are arrogant, ignorant, clueless zealots and fanatics.
Nouriel Roubini Attacks Bitcoin and Crypto Supporters
During an interview with the CFA Institute, he attacked virtual currencies and the cryptocurrency space as a whole. One of the things he said is that he cannot understand how Bitcoin enthusiasts can be clueless and gullible. For him, it is too obvious that the entire industry is a scam.
About it, Roubini commented:
“I engage on Twitter and also have attended many of these crypto or blockchain conferences. I met some of these individuals. I’ve never seen in my life people who on one side are so arrogant in their views – who are total zealots and fanatics about this new asset class – while at the same time completely and totally ignorant of basic economics, finance, money, banking, central banking and monetary policy.”
He went on saying that these enthusiasts want to reinvent money but most of them are totally clueless. It is worth mentioning that he has been always talking about virtual currencies because it is possible to attract a lot of attention from media
Roubini has also decided to block several individuals that do not agree with him about the crypto space and economics issues. Nevertheless, he sometimes engages in debates about virtual currencies and blockchain technology.
The economics professor has been forecasting a worldwide collapse for several years. He indeed tries to identify financial bubbles in the economy. This is similar to what Rober Shiller does. Shiller is an economics professor at Yale University and he specializes in spotting financial bubbles as well. Both of them believe that a recession could happen at any moment.
Although Roubini was able to forecast the financial crisis the happened in 2008, he has also failed when he said that in 2013 there was going to be a new financial crisis. Moreover, he was never able to predict Bitcoin growing to new levels as it did in 2017.
Now, Bitcoin seems to be starting to grow after several months in a bear trend. Since December 2017, Bitcoin is in a bear trend from which it cannot move. Nevertheless, the digital asset could soon surpass $4,000 and start growing once again.