Nouriel Roubini is a Turkish-American economist and professor of economics at the NYU Stern School of Business. He gained notoriety in 2008 for accurately predicting the global financial crisis, earning him the nickname “Dr. Doom.” Since then, he has become an outspoken critic of cryptocurrency, particularly Bitcoin.
Roubini first made his opinion on crypto clear in October 2017 when he testified to Congress about its potential risks and dangers. In that testimony, he called cryptocurrencies “the mother or father of all scams” and compared them to “tulip bulbs during the Dutch tulip mania bubble” (referencing one of history’s earliest recorded speculative bubbles). He also criticized their lack of intrinsic value and argued that they are used mainly as a tool for criminals due to their anonymity.
Since then, Roubini has remained highly critical of cryptocurrencies such as Bitcoin, Ethereum, Ripple XRP, and Libra (Facebook’s proposed stablecoin). On multiple occasions he has expressed his belief that these assets have no real use beyond speculation or money laundering activities because they offer no tangible utility outside their ability to be traded for other currencies or goods; this view is directly contrary to those who see digital assets as valuable investments with long-term prospects .
In addition to attacking specific projects like Facebook’s Libra stablecoin proposal , Roubini has expressed doubt about blockchain technology itself being able to solve major economic problems such as poverty or inequality . He believes it could only provide a solution if governments were willing to accept it – something which isn’t likely anytime soon due its decentralized nature . As such , Roubini continues advocating against investing in any type of cryptocurrency from a long-term perspective while stressing regulation would be necessary before any mass adoption takes place .
