(Bloomberg) -- Nassim Nicholas Taleb, author of “The Black Swan,” says he has been getting rid of his Bitcoin.
A currency is never supposed to be more volatile than what you buy and sell with it, the former options trader said, adding that you can't price goods in the cryptocurrency. “In that respect, it's a failure (at least for now).”
Taleb also said in a separate tweet Bitcoin has failed as a hedge against central bank policies.
Bitcoin was up 1.5% since 5 p.m. yesterday to $47,657 at 12 p.m. in New York, according to a composite of prices compiled by Bloomberg. The coin has gained 64% so far this year.
Read More: Sheila Bair Says Don't Buy Bitcoin, It's at ‘Nosebleed Levels'
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