Why Former Risk Analyst Selling His BTC? He Explains the Reason Behind It

No doubt, Bitcoin is at “high-risk “in terms of the investment spectrum. However, some people think that the price of cryptocurrencies is volatile; some could be scammed while some go bust, and occasionally one may rise in value and produce a good return for investors. However, the former analysts have different opinions according to their experience and observations.

Nowadays, Bitcoin has attained remarkable media attention in line with its significant rise of the price of nearly $50,000, which occurred due to Tesla’s recent $1.5 B purchase. Nasim Nicholas Taleb, who worked previously as an options trader and a risk analyst, observes BTC or Bitcoin less optimistically.

According to the observation of the former risk analysts, Bitcoin has failed for 11 years. Moreover, the Former risk analyst explains why he is selling his BTC holdings.

While speaking to BNN Bloomberg in a tweet on the12th of February, Taleb said that he wanted to get away from BTC. Why? Because a currency should never be more unpredictable than what you sell and purchase with it,” he further added that.

Furthermore, he said that in BTC, one couldn’t afford goods. It’s a disappointment in this respect (nowadays, at least). Also, he posited that the COVID-19 denied the antisocial attitude and the worldliness of amoebas.

Well, the logic keys of Taleb is on the top-ranked cryptocurrency as a currency, not as a valuable store of value– but the latter has explained in better ways, at least according to several players in the cryptographic industry, the digital asset’s position in recent years. Some people have argued that BTC is a payment process, for example, the famous advocate of BCH (Bitcoin Cash) Roger Ver. Very often, he argues that the current structure of Bitcoin does not permit such a debatable function, repeating some of the concerns of Taleb.

Additionally, Peter Schiff, the Finance commentator and Gold advocate, still talks against Bitcoin sometimes; however, an increasing number of significant corporations think differently, as the digital asset shows value.

Besides, one of the recent Bitcoin’s supporters, MicroStrategy CEO Michael Saylor, considers Bitcoins as a preservation value method. Indeed, he is one of Bitcoin’s most recent proponent.