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‘Dr. Doom’ Nouriel Roubini Says Bitcoin Is ‘Bogus,’ Risk to Financial System

‘Dr. Doom’ Nouriel Roubini Says Bitcoin Is ‘Bogus,’ Risk to Financial System

One of Wall Street’s biggest crypto skeptics is taking fresh aim at bitcoin amid its steep sell-off.

Nouriel Roubini — also known as “Dr. Doom” for his frequently apocalyptic predictions on markets and the economy — doubled down on his view that bitcoin is far from being an inflation hedge and is a “pseudo-asset class.”

Bitcoin, which entered bear market territory late last year, traded around $67,400 on Wednesday, down 45% from its peak in late October.

“Calling Bitcoin or any other crypto vehicle a ‘currency’ has always been bogus. It is neither a unit of account, a scalable means of payment, nor a stable store of value,” Roubini wrote in an op-ed for Project Syndicate earlier this month.

Roubini, who…

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