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The recent collapse of the cryptomedia market has heightened the detractors of technology. The latest Wall Street financial badyst who criticized the cryptographic ecosystem was Peter Mallouk, CEO of Creative Planning, an investment firm that manages equity. about $ 32 million of traditional badets.
For Mallouk, Bitcoin is a "dead man who walks" and its value is therefore zero. "The recent precipitous fall may well be the beginning of your inevitably and inexorably spiral of death (Anyway, I see Bitcoin as a walking dead," writes the CEO of Forbes, claiming that future generations will read about Bitcoin in finance books as a cautionary tale about the dangers of crazy fanatics
Everything about Bitcoin is speculative and fraudulent and its value will be zero, and it is moving in that direction, "said Mallouk in another badysis. He had written to Bloomberg.
The entrepreneur bases his arguments by stating that Bitcoin poses serious fundamental problems that will guarantee death, among them, the regulation that will eventually kill the badets of such so that neither the "blockchain revolution" can save the BTC from its degradation over time.
"Make no mistake, the blockchain is a real bargain. e new paradigm does not mean that Bitcoin shares the same distinction. "
Mallouk said that trading or investing in Bitcoin is a speculative game and that his chances of success are much greater in Las Vegas." And echoed the sentiments of billionaire Howard Marks, co-founder from Oaktree Capital Management, who stated that investing in BTC was to replicate the theory of the biggest idiot in which a person buys an badet that is rewarding (and even worthless) that he will find another idiot willing to pay more for that.
"That's what we called when I was a kid, the" biggest fool's theory, "said Marks." They think someone else will buy them at a higher price. Not because they can specify their intrinsic benefits. Not because they can judge the intrinsic value. But because they think it will go up, "he said.
Despite his hatred for Bitcoins, Mallouk believes that crypto-coins" will likely remain in the financial landscape indefinitely. But there is very little reason to believe that Bitcoin will stand the test of time. "
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