Famed economist Nouriel Roubini says that Bitcoin and other cryptocurrencies, which he’s dubbed as “sh-tcoins,” have no place in retail or institutional investor portfolios.
Roubini, a professor of economics at NYU’s Stern School of Business, slammed Bitcoin (BTC-USD) as it has hit recent highs and was last trading above $23,300.
“First of all, calling it a currency — it’s not a currency. It’s not a unit of account, it’s not a means of payment.…it’s not a stable store of value. Secondly, it’s not even an asset,” Roubini said.
According to Roubini, Bitcoin has no intrinsic value. He pointed