.nntaleb says that the crypto industry hasn’t managed to produce anything remotely useful
, Microsoft CEO Bill Gates said that cryptocurrencies were 100% based on the “greater fool theory.”
Berkshire Hathaway CEO Warren Buffett famously called Bitcoin “rat poison squared” while claiming that he wouldn’t buy all Bitcoins in existence for just 25%. Buffett famously has a preference for companies that are capable of generating healthy and consistent cash flows. during a prolonged period of low interest rates.
However, the Federal Reserve’s hawkish monetary policy has delivered a devastating blow to the largest cryptocurrency. It is now down 76.25% from its record peak.
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