'Black Swan' author Nassim Taleb slams Bitcoin as a 'cult-like, useless' currency.

Nassim Taleb, author of The Black Swan, has criticized Bitcoin, calling it an ineffective cult that doesn't even facilitate illegal transactions well. He also criticized broader crypto culture, describing it as fanatical and dysfunctional. Taleb previously invested in Bitcoin but began selling his crypto in 2021 because he found the currency too volatile. He also predicted that the Federal Reserve could pull the plug on crypto at any moment and would replace Bitcoin next month with FedNow, an instant payment service the Fed plans to introduce in July.