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Economist Nouriel Roubini is working on inflation-proof cryptocurrency | crypto

Nouriel Roubini became world famous because he was one of the few who managed to predict the financial crisis of 2008. He teaches at New York University and is nicknamed “Dr. Doom’ is known worldwide for its pessimistic economic forecasts.

In recent years, for example, he has often been very negative about crypto coins. “Bitcoin has no intrinsic value whatsoever. It’s a speculative bubble. Bitcoins, like all other ‘shitcoins’, are worth nothing at all”, he stated a year ago. He also previously spoke negatively about bitcoin, ethereum and blockchain technology, which he said was “no better than a spreadsheet”.

But at the moment Roubini isn’t thrilled about the dollar either. High inflation is eroding the dollar’s purchasing power, according to the economist, and the US central bank is “printing too much money” and thus doing too little to keep the dollar’s value stable. “The position of the US dollar as a reserve currency is therefore less certain,” Roubini explains his remarkable turn to Bloomberg.

That is why he is working with his investment company Atlas Capital Group on his own token or digital currency. “It has to be an instrument more stable than the dollar,” Roubini said. He is referring to an inflation-proof token whose value is linked to a mix of investments, including gold, US government bonds and real estate. A variation on a so-called stablecoin, the value of which is, for example, linked to the dollar.

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