Nouriel Roubini, dubbed “Dr.Doom” for his pessimism and cynicism, recently doubled-down on his efforts to bash the cryptosphere, calling this market a “stinking cesspool.” However, this wasn’t the first time that he has slammed this nascent industry with scalding comments, as he began to attack Bitcoin in 2013 — when BTC went for $58 a pop.
Old Man Yells At Bitcoin, Misses Out On 100x Upside
It is common knowledge that NYU Stern’s Nouriel Roubini is against crypto assets and everything they stand for. Like many traditionalists, Roubini, an economist and professor, fail to understand the allure of decentralized, blockchain-issued assets.
Most recently, the so-called “Dr.Doom” took to the U.S. Senate Committee on Housing, Banking, and Urban Affairs to falsely label Bitcoin “the mother (or father) of all scams and bubbles” and blockchain “the most hyped tech ever.”
So what’s his deal? You may be asking.
Well, a short five years ago, when Bitcoin (BTC) fell 40% to trade at $58, Roubini took to Twitter to name drop the now-popular cryptocurrency, mentioning it while discussing gold and silver.
At the time, the entire market capitalization of crypto was under $1 billion, but Dr.Doom presumably saw this industry, which he still doesn’t comprehend, as overvalued.
But, as alluded to earlier, Roubini, who infamously predicted the 2008 financial crisis, should have bought BTC, instead of taking up arms against this industry for years on end. As pointed out by Alistair Milne, a Monaco-based crypto, fintech entrepreneur, since April 16th, 2013, when Roubini first made mention of Bitcoin, the decade-year-old cryptocurrency has seen a 100x move to the upside.
For his own credibility, @Nouriel should address the fact that he could've had a ~100x ROI (since he first starting attacking Bitcoin on Twitter) … 300x if he'd sold the 2017 peak
Time will be a harsh mistress if he doesn't now separate Bitcoin from the rest …
— Alistair Milne (@alistairmilne) October 13, 2018
Moreover, if Roubini happened to have bought BTC and sold it at its 2017 peak, he would’ve been up 300x on his investment.
it is important to note that this story just isn’t about missed financial gains, however, as it underlines Roubini’s lack of comprehension when it comes to this space.
Roubini And Vitalik Buterin To Go Head-To-Head In Debate
Despite missing out on the gravy train, so to speak, Roubini still seems hell-bent on decimating this industry. As reported by Live Coin Watch previously, following his anti-crypto rant, the critic took to Twitter to express his utter hatred for this emerging industry.
Eventually, after calling the cryptosphere a “stinking cesspool,” he was prompted by Laura Shin, the showrunner of the Unconfirmed and Unchained podcast, to debate Vitalik Buterin on her show.
While neither accepting the challenge, Roubini claimed that he has “no interest” in interacting with Shin, who he sees as a “biased shill” in the guise of a “pseudo-journalist.” As such, Buterin, who is open to participating in the debate, called upon Kevin Pham to moderate.
The details for this debate are still being fleshed out, but if it happens, viewers of this spectacle will be in for a treat, that’s for sure.
Base Image from Kristopher Roller on Unsplash — Bitcoin Logo from Lukasz Adam