Nouriel Roubini, a renowned economist and one of the most well-known Bitcoin critics, has resumed his criticism of cryptocurrencies. In an interview with the CFA Institute on March 6, Roubini expressed bearish views on digital currencies. According to him, "Cryptocurrency as technology has no basis for success. "
Roubini, Professor of Business and International Business at New York's Stern School of Business, is one of the few experts to have predicted the financial crisis of 2007-08. Hence the moniker "Dr. Doom". Now he believes that virtual currencies have no future.
He seems to be pessimistic on digital currencies and claims that they are not money. The professor further stated that cryptos could not be a means of payment. The reason is that they are unstable and have scalability issues.
For years, Nouriel Roubini speaks against digital coins and especially BTC. This currency is nothing but a fraud and a bubble.
Aside from cryptocurrency, Nouriel also held a strong stance on Blockchain, which underpins technology, Bitcoin, and other cryptocurrencies. He described it as overheated technology that would mean nothing. He remains convinced that Blockchain will not disturb financial institutions and the global economy. He said:
"Fintech is a combination of artificial intelligence and big data and the ubiquitous Internet. It will revolutionize payment systems, credit allocation, capital market functions, insurance, investment management, financial advice, etc. "
Blockchain is nothing more than an Excel spreadsheet
In January of this year, Roubini said Blockchain is "nothing more than an Excel spreadsheet". Although his views on cryptocurrency are not new, his negative attitude toward Blockchain makes him the only crypto player who does not believe in the power of Blockchain. Even billionaire investor Warren Buffet, who warned people to avoid Bitcoin like the plague, believes blockchain technology is important. Crypto enthusiasts argue that Roubini does not understand Blockchain and does not want to admit it.
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Post-Quelle: Cryptocurrency Because technology has no basis for success, says the economist Nouriel Roubini
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