People are Turning to Artificial Intelligence from Crypto
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Renowned mathematician Nassim Nicholas Taleb, architect of the Black Swan theory and author of “The Black Swan,” has once again criticized cryptocurrencies, stating that the allure of the crypto trend has faded.
In a recent tweet, Taleb asserted that cryptocurrencies have lost their appeal, especially among young adults who used to enjoy exploring them while in their mothers’ basements. According to him, these individuals have now shifted their attention to another trend, Artificial Intelligence (AI).
Taleb compared cryptocurrencies to a black obsession and argued that when one black obsession diminishes, it is quickly replaced by another. In his tweet, he shared a Latin saying that translates to “All loves are conquered by a successor.”
Emmet Peppers, founder of Good Soil Investment, responded sarcastically to Taleb’s tweet, mentioning that crypto has been “dying” for over a year, yet Bitcoin (BTC), the largest cryptocurrency, still trades around $30,000. Peppers pondered whether interest in Bitcoin would revive if major Wall Street players like BlackRock and Fidelity launched Bitcoin exchange-traded funds (ETFs). He suggested that if many people bought small amounts of Bitcoin as portfolio insurance, the cryptocurrency could potentially gain value.
Taleb’s Previous Critique of Bitcoin
In early June, Taleb criticized Bitcoin, labeling it as useless and dangerous. During the Bloomberg Invest Conference, he targeted the largest cryptocurrency, stating that it neither served as a safe haven nor a suitable asset for money laundering. Taleb expressed that investing in Bitcoin had taken on a cult-like behavior that contradicted the pragmatic nature of the financial world.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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