According to Nuriel Raubini, an economist and prominent Bitcoin critic, the U.S. Securities and Exchange Commission should “keep an eye on the public” for market maneuvering after the electronic car maker’s recent decision to keep Bitcoin on its balance sheet.
Musk has tweeted about bitcoin and dogcoin in recent weeks, at one point updating the bio of his popular Twitter profile to “# bitcoin”. Filed by Tesla Its annual 10K report It bought about 1.5 1.5 billion worth of shares, according to the U.S. Securities and Exchange Commission on Monday. Bitcoin (BTC, -5.76%) In January.
Michael Sayler, a professor of economics at New York University, similarly criticized the “irresponsible behavior” of Michael Sayler, CEO of Microstrategy, for converting a significant portion of a business intelligence company’s cash into bitcoin, given the volatility of cryptocurrency. Microstrategy currently has 71,079 BTC, according to an SEC filing last week.
On in an interview Coindesk TVIn the first move, Rubini warned that Bitcoin could “collapse” if Teether, the issuer of the T-Thar (USDT) stabilizer, and the crypto exchange BitFinex were charged this year. Tether (USDT, -0.06%) Eye Popping has a market capitalization of 31 billion and is subject to multiple ongoing investigations, including by the U.S. Department of Justice and the New York Attorney General’s Office. At the center of the DOJ’s criminal investigation in Tithera as an agency Whether USDT is used to inflate cryptocurrency markets.
Bitfinex claimed last Friday that it had paid the remaining balance of its 5 50,550 million loan to its sister Pharma Tether. In 2018, the exchange took over থ 600 million from Tithar, with which it shares executive and ownership. The New York Attorney General’s Office alleges that BitFinex lost 850 million payment processors to cryptocurrency corporations, paying customers and corporate funds, and secretly used funds from Tithar’s reserves to cover the shortfall. .
Raubini predicts the world will eventually have a “cash crunch” and the United States will create an “e-dollar”. He said the central bank’s digital currencies would allow central bankers to speed up monetary policy, and normalize negative rates in times of economic crisis.
See the full interview with Dr. Roubini above.