In a current tweet, Lawrence McDonald, a Lehman Brothers veteran, argues that Bitcoin, the world’s largest cryptocurrency, has doubtless destroyed “way more” wealth than it managed to create.
He believes that Bitcoin can’t truly function a viable retailer of worth as a result of “insufferable” drawdowns.
Whereas cryptocurrency proponents all the time are likely to level to Bitcoin’s stellar returns over the previous 10 years, McDonald is satisfied that nobody has truly held the most important cryptocurrency for such an extended time frame.do “Do you consider in flying elephants too?” he tweeted.
The cryptocurrency is down 75.72% from its all-time excessive that was achieved in November 2021.
Final month, he tweeted that Bitcoin continues to be something however an inflation hedge.