Renowned Bitcoin critic Nouriel Roubini called Elon Musk “a manipulator of the cryptocurrency market” and said that regulators should keep a close eye on such people.
Nouriel Roubini criticized the behavior of Tesla CEO Elon Musk, who recently tweeted about BTC and DOGE as his tweets are fueling cryptocurrencies. Later in an annual report filed with the US Securities and Exchange Commission (SEC), Tesla announced the purchase of bitcoins in the amount of $ 1.5 billion. Roubini said that the report should alert the Commission, and urged the regulator “to pay special attention to such people.”
MicroStrategy CEO Michael Saylor is also acting “irresponsible” by investing a significant portion of the company’s reserves in Bitcoin, despite its volatility, Roubini said. According to a MicroStrategy report, the company currently owns 71,079 BTC.
In an interview, the cryptocurrency critic said bitcoin could crash if cryptocurrency exchange Bitfinex and Tether lose the legal battle. We are talking about $ 800 million frozen in the accounts of Crypto Capital, which was the payment processor of Bitfinex and Tether. USDT has a market capitalization of more than $ 30.5 billion, but Tether is involved in numerous investigations by the US Department of Justice and the New York Attorney General’s Office. For example, the US Department of Justice is investigating how USDT is being used to manipulate the cryptocurrency market.
That being said, Roubini sees potential in central bank digital currencies. He suggested that eventually the world will give up cash, and the US will sooner or later launch the digital dollar. The skeptic is confident that government stablecoins will enable banks to effectively manage monetary policy and optimize negative interest rates during the economic crisis.
Roubini believes that cryptocurrencies are the perfect tool for scammers who “steal billions of digital assets every day.” In addition, the critic called the fall in cryptocurrency rates an apocalypse and “crypto carnage”.
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