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Roubini said he sees the digital currency as a volatile "pseudo-asset" and argued much of the price movement "is driven not by worries about inflation or debasement of fiat currencies," but rather by "massive manipulation."

The economist said that there are a number of schemes used by digital currency whales to push the price of bitcoin higher. In particular, he highlighted the stable coin tether as an example.

Roubini said tether is "produced out of nowhere with we don't know which kind of backing and every other day there is another billion dollars of it that goes to buying bitcoin."

"We know there are a whole bunch of legal investigations by the DOJ, CFTC, the attorney general's office in New York, they are looking into what's going on," the economist added.

> Roubini said he sees the digital currency as a volatile "pseudo-asset" and argued much of the price movement "is driven not by worries about inflation or debasement of fiat currencies," but rather by "massive manipulation." > The economist said that there are a number of schemes used by digital currency whales to push the price of bitcoin higher. In particular, he highlighted the stable coin tether as an example. > Roubini said tether is "produced out of nowhere with we don't know which kind of backing and every other day there is another billion dollars of it that goes to buying bitcoin." > "We know there are a whole bunch of legal investigations by the DOJ, CFTC, the attorney general's office in New York, they are looking into what's going on," the economist added.

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[–] [deleted] • 0 pt

If you got in at 30k/BC about a month ago, sure seems like a hedge against inflation at ~50k.

[–] • 0 pt

Or if you got in at $3500 two years ago, inflation is blowing you just like this stupid economist should be

[–] [deleted] • 1 pt

Haha, I bought BC at $20....and sold at $70 thinking myself a savvy investor. Troof. Kicking myself in this universe.

[–] • 0 pt

ah damn.. dont worry man almost everyone else did the same save for a very select few. I knew about it before the first one was even mined do you think I was on top of shit enough to buy and hold? Nope.

Just start buying a year or so after the next blow off top and youll make some money. Many others are having way bigger gains anyway, it's not too late to make a fuckload of money in crypto, provided you're young enough.

[–] • 0 pt

An economist hahehaheha the brokest mother fuckers in every market are always the economists. What an idiot

[–] • 0 pt

Do you remember what happened in 2018?

[–] • 0 pt

ya. It was the best buying opportunity you've never seen. And do you see what's happening today only 2.5 years later? Economists are to be ignored always.