NYU business school professor says the end of crypto has begun and urges a complete sell-off
NYU business school professor says the end of crypto has begun and urges a complete sell-off
Warnings of a so-called cryptocurrency apocalypse are sending shockwaves through investors, as the virtual asset market led by Bitcoin (BTC) is said to be headed for collapse due to a lack of intrinsic value and speculative frenzy.
According to financial media outlet Benzinga on February 7 (local time), Nouriel Roubini, emeritus professor at New York University’s Stern School of Business and dubbed “Dr. Doom,” delivered scathing criticism by diagnosing the current cryptocurrency market as an apocalyptic crisis. Roubini, an economist known for accurately predicting the global financial crisis, argued that the market collapse has already begun, citing Bitcoin’s recent price decline and the crash of meme coins.
Roubini stressed that considering Bitcoin as money or an asset is a clear mistake and that claims of a financial system revolution are entirely exaggerated. He explained that “Bitcoin is neither a unit of account nor a scalable payment instrument, nor a stable store of value.” He added that Bitcoin fails to play the role of a safe-haven asset like gold and instead merely amplifies volatility by moving in tandem with risk assets.
Recent market figures are being presented as evidence supporting Roubini’s claims. Bitcoin has fallen 35% from its October peak, retreating to levels seen before the election of U.S. President Donald Trump, while meme coins that once drew market attention, such as TRUMP and MELANIA, have plunged 95% from their highs, effectively losing their value. Roubini asserted that these developments are clear proof of the lack of real-world use cases for cryptocurrencies.
Warnings have also emerged that the Trump administration’s crypto-friendly policies could instead trigger a market crisis. Roubini predicted that government-led efforts to promote cryptocurrencies would inflate bubbles and ultimately cause greater financial turmoil. He declared, “Changes in financial and payment systems will occur gradually, and the revolution promised by cryptocurrencies will never happen.”
Ultimately, Roubini’s warning raises fundamental doubts about the market’s long-term viability. As cryptocurrencies fail to prove their usefulness in the real economy, the current downturn risks evolving beyond a mere correction into a market dismantling process. Investors now face a critical moment to fundamentally reassess their asset allocation strategies in preparation for the possibility that Roubini’s apocalyptic scenario becomes reality.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses based on it. The content should be interpreted solely for informational purposes.*
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