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>>Roubini, a crypto skeptic, brands the GENIUS Act as reckless and cautions that stablecoins may provoke runs.

Roubini, a crypto skeptic, brands the GENIUS Act as reckless and cautions that stablecoins may provoke runs.

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about 3 hours ago

Roubini’s Critique of Bitcoin

Nouriel Roubini dismisses Bitcoin as a “pseudo‑asset class” and not an inflation hedge. He calls it a bogus currency tied to a bubble and a Ponzi scheme. Roubini attacks the GENIUS Act, dubbing it the “Reckless Idiot Act,” and warns that stablecoins lack lender‑of‑last‑resort support and deposit insurance.

Bitcoin’s Market Decline

Bitcoin traded around $67,400, about 45 % below its October peak. Investor outflows have erased more than $1 trillion in market cap, and spot Bitcoin ETFs lost roughly $3.3 billion. The usual price support has vanished, leaving buyers scarce.

Contrasting Bull View

Robert Kiyosaki remains bullish, buying a whole Bitcoin at $67k. He cites an upcoming US debt crisis and the final “21 millionth” Bitcoin as catalysts that could make Bitcoin superior to gold. His stance highlights the deep divide in crypto sentiment.

Shift Toward Gold and Stablecoins

Gold and silver have surged, with US gold ETFs attracting over $16 billion in three months. Stablecoins are gaining ground in payments, while digital‑asset treasury models and related stocks have collapsed. Regulators have yet to intervene, but the market is reallocating to traditional safe‑haven assets.