How do famous Bitcoin-Bashers feel about the current Trump bullrun?

In recent years, there have been many well-known ‘Bitcoin bashers’ who commented in global media on the silliness of Bitcoin just as the price of the biggest digital currency continued to rise. There was Paul Krugman, the economics professor who once won the Nobel Prize and who writes an almost weekly column in the New York Times. Last year he thought he had finally defeated Bitcoin with his ‘Adam Smith Hates Bitcoin‘ text, but it turned out to be in vain as the largest digital coin now trades near a price of $90,000.

Chuck Schumer, leader of the American Democratic party in the Senate, is also a well-known Bitcoin basher.

Roubini and Taleb

Furthermore, there is ‘Black Swan’ author (and one of my favorite writers) Nassim Taleb, who used to be a fan of Bitcoin, but then changed his mind. He once wrote the foreword for ‘The Bitcoin Standard’, the famous book by Saifedean Ammous. The two subsequently got into a heated argument and Taleb became a Bitcoin basher afterwards. Just a few months ago, on CNBC, he damned Bitcoin and said there is no value in it.

Another one is Nouriel Roubini, the famous economics professor who was nicknamed ‘Dr Doom’ because he correctly predicted the 2008 financial crisis. Roubini commented a lot about Trump’s economic plans this week, but is remarkably silent about Bitcoin (he used to say that he was certain the Bitcoin price would go to zero).

Katie Martin

But one that I read every week (as I have a subscription to the Financial Times) is Katie Martin. Actually, she is not the only one at that newspaper who is a Bitcoin basher, but I think Martin is intellectually a step above Jemina Kelly, who is more amusing in her criticism of digital currencies.

However, this week Katie also had to admit that the Bitcoin bull run we have been seeing since Donald Trump’s victory is of a different order. She quoted the analysts at Bernstein (a global wealth manager). They said last Monday: “Welcome to the crypto bull market. Buy everything you can . . . We recommend investors who have so far remained shy of any crypto exposure due to regulatory concerns ‘invert their mental model’.”

Katie looked at the bank ratings and analyst reviews over the past few days and concluded that it is becoming increasingly difficult to produce further valid arguments against Bitcoin, especially now that even she writes that $100k Bitcoin before the end of the year is not impossible. It’s always nice when someone admits they’re wrong, of course.