Written by 5:55 am Crypto News

Grayscale founder waiting for Bitcoin to reach $100,000


Nassim Nicholas Taleb, author of many popular books and former options trader, has taken a dig at Barry Silbert, the founder of Crypto Billionaire and Grayscale, about Bitcoin. He said That Silbert continues to wait for Bitcoin to reach one million dollars.

Nicholas posted a screenshot on Twitter in which Silbert joked that he was waiting to sell Bitcoin to Nicholas for $100,000. In the last few years, Nicholas has taken an adverse attitude towards Bitcoin. He said in March that even if Bitcoin reaches $ 100,000, it will be a failure. He believes that Bitcoin has proved that it is not a hedge against inflation. Along with this, he had said that the decline in the crypto market can last for a long time.

On the contrary, Bitcoin has been consistently supported by Silbert. They have investments in this largest cryptocurrency in terms of market capitalization. Bitcoin touched a high of about $ 69,000 in November last year. Since then, it has declined significantly. Due to the slowdown and other reasons, the pressure on its price has increased. Bitcoin has fallen below the critical support level after US Federal Reserve chief Jerome Powell hinted at aggressive steps to deal with the surge in inflation.

Bitcoin is priced below $20,000. Earlier, it had gone below this level about two years ago. Investors as well as firms associated with this segment have suffered huge losses due to the decline in the crypto market. Many crypto firms have taken measures like layoffs to reduce costs. Some of these firms have also reached the verge of bankruptcy. Recently, market expert Jim Cramer also asked investors to stay away from cryptocurrencies, non-fungible tokens (NFTs) and special purpose acquisition companies (SPAC). He had warned that these assets could cause major losses to investors. Cramer had said, “I think we should also question the fundamentals of crypto.”