Roubini at it again during crash: "Still some way to ZERO where Bitcoin belongs"

15 Nov, 2018
by Richard Allen
Roubini at it again during crash: Still some way to ZERO where Bitcoin belongs

Economist Dr. Nouriel Roubini, also known as Dr. Doom, hasn't missed an opportunity to remind the community what he thinks of cryptocurrencies.

Roubini’s dislike of cryptocurrencies isn’t a secret. In May, for example, Roubini commented that Bitcoin investors, specifically those who invested in the world’s biggest cryptocurrency after its meteoric rise at the end of last year, are “suckers.” Then in October, Roubini described the cryptocurrency industry as “the mother of all scams."

Read more: Roubini's critiques are nothing new, and they're worth taking seriously

With regards to yesterday’s market crash, however, Roubini has taken to Twitter to further reinforce his opinion on the industry, stating that a 10% collapse in the price of Bitcoin to $5700 is gloat-worthy, but still a far cry from “ZERO where Bitcoin belongs.”

One Twitter user took exception to Roubini's criticisms, tweeting: 

He then replied to another user who criticized a different tweet. In response, Nouriel said that it's his belief “that BTC is worth negative,” stating that the coin “isn’t scalable” and “it isn’t a stable store of value.”

Community members reacted about as well as can be imagined:

Roubini doesn’t mince his words in his final tweet:

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