Bulletpoints:
– NYU Professor Nouriel Roubini, aka Dr. Doom, warned that 99.99% of crypto is a scam, a criminal activity, and a total real-bubble Ponzi scheme that is going bust.
– Roubini advised investors to „absolutely stay away“ from crypto, claiming that most people in the crypto space are „all crooks.“
– Roubini noted that most bitcoin investors bought the cryptocurrency „well above the current market value,“ resulting in them „losing their shirts.“
At the World Economic Forum in Davos, Switzerland, NYU Professor Nouriel Roubini, also known as Dr. Doom, made a bold statement regarding the cryptocurrency space. In an interview with Yahoo Finance Live, he warned that “99.99% of crypto is a scam, a criminal activity, a total real-bubble Ponzi scheme that is going bust.” His advice to investors? “Absolutely stay away” from crypto.
Roubini, a professor of economics and international business at New York University’s Stern School of Business, did not mince his words when expressing his opinion on the crypto market. He stated that “most people in the crypto space are all crooks,” and that the collapsed crypto exchange FTX and its disgraced founder Sam Bankman-Fried (SBF) are “not an exception — they’re a rule.”
To back up his claims, Roubini cited the fact that most bitcoin investors bought the cryptocurrency “well above the current market value,” resulting in them “losing their shirts.” He stated that these investors had “FOMO [fear of missing out] in 2021 when it was skyrocketing from $20,000 to … $69,000.”
Roubini concluded his statement by reiterating his advice to investors to “absolutely stay away” from crypto, saying that it is a “nightmare” and that they would be “losing their shirts” if they invested in it. He also noted that the crypto market is “full of scams and criminal activities,” and that it is a “real-bubble Ponzi scheme that is going bust.”
Overall, Professor Nouriel Roubini’s comments on the crypto space can be seen as a warning to investors. He believes that it is a scam and a criminal activity, and that investors should stay away from it. While his statements can be seen as extreme, it is clear that he is urging investors to be careful when investing in crypto.