'Black Swan' Author Notes Sinking Valuation Of Jack Dorsey Tweet NFT — Says Such Investing A Sign Of 'Mental Deficit'
Portfolio Pulse from Benzinga Neuro
Nassim Nicholas Taleb, author of 'Black Swan', criticized the investment in Non-Fungible Tokens (NFTs), calling it a sign of a 'mental deficit'. He pointed out the sinking valuation of the NFT of Jack Dorsey's maiden tweet, which was sold for $2.9 million in March 2021, but the most recent bid was $1.14. Taleb's critique comes as the NFT market has seen a significant slump, with the average price of an NFT sale falling by 92% in two months, from May to July 2022.
July 20, 2023 | 1:44 am
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NEGATIVE IMPACT
Bitcoin may face negative impact due to Taleb's criticism of cryptocurrencies.
Nassim Nicholas Taleb has been a vocal critic of cryptocurrencies, including Bitcoin. His criticism could potentially influence market sentiment towards Bitcoin, possibly affecting its price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Block Inc, led by CEO Jack Dorsey, may face indirect impact due to the criticism of NFTs, a digital asset class.
As the CEO of Block Inc, Jack Dorsey is associated with the NFT of his tweet. The sinking valuation of this NFT and the overall slump in the NFT market could indirectly impact the perception of Block Inc, potentially affecting its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50