Roubini Claims Crypto Bloodbath Has Only Just Begun

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Nouriel Roubini has been a Bitcoin basher for some time now. Together with goldbug Peter Schiff and economics professor Paul Krugman (asking what Blockchain’s are good for) he’s having a great year of course.

Whilst crypto Twitter made fun of the threesome during the Covid-19 lockdowns when youngsters had no choice but to trade crypto and sent prices sky high, 2022 has without a doubt been a good year for anyone critical of crypto and Bitcoin.

Abysmal Abyss Nadir on the way to Apocalyptic Extinction …

Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst https://t.co/DfhVuCGuBf

— Nouriel Roubini (@Nouriel) December 4, 2022

97%

The crypto critics are reveling the fall of FTX and Sam Bankman-Fried of course, and Roubini, also known by his nickname Dr. Doom, is no different. He claims that “97%” of the current crypto projects are “scams”, although he offers no proof as to why.

Most of them tend to forget that known tech stocks like Meta (formerly Facebook), Netflix, Peloton and Robinhood are also down 80% this year. Even Tesla has lost a lot of its shine, as it is the most profitable stock for short sellers lately.

This however does not seem to bother Roubini as of late. He keeps tweeting about the demise of Bitcoin, which he expects any time soon. Repeating a claim made by Blackrock’s CEO Larry Fink, Roubini also stated that:

Most is an understatement; they are all pretty much on the way to total extinction. The bloodbath has only started.

“Most” is an understatement; they are all pretty much on the way to total extinction. The bloodbath has only started

BlackRock’s Fink Says Most Crypto Firms Will Fold Following FTX’s Implosion https://t.co/wfoXYIuiEW

— Nouriel Roubini (@Nouriel) December 1, 2022

With so many known Bitcoin bashers now reveling in the collapse of FTX and even the ECB releasing a (blog) statement this week that crypto was on the road to extinction, we can only conclude that the bottom must be near.

Lastly, I’m currently reading Roubini’s newest book Megathreats. It’s not bad but a bit exaggerated. A bit of the same exaggeration he seems to provide in his tweets as of late.

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