“Nouriel Roubini, known as ‘Dr. Doom’ on Wall Street, has advised a cautious approach to investing in Bitcoin, which is considered the leader of cryptocurrencies,” according to Bloomberg on the 28th (local time). Roubini appeared on Bloomberg TV the previous day, stating, “Bitcoin is highly volatile,” and asserting that “if you want to preserve your assets rather than face high volatility, it’s best to stay away from this type of asset.”
Roubini, a professor at New York University who predicted the 2008 global financial crisis and gained the nickname Dr. Doom, is known as a major Bitcoin skeptic on Wall Street. He once famously called Bitcoin “the mother of all bubbles.”
The professor also warned that the tariffs and immigration policies proposed by U.S. President-elect Donald Trump will exacerbate American inflation, emphasizing, “In a world where inflation is rising, you will see losses in both the stock and bond portions of your portfolio.” He continued by recommending ‘curve steepener’ investments, which make profits when the yield gap between long-term and short-term U.S. Treasury bonds widens. This is suggested as an investment alternative that works well even during high inflation.
As Roubini pointed out, Bitcoin has been showing high volatility recently. On the 22nd, Bitcoin surged to a record high of around $99,800, nearly reaching the ‘100,000-dollar’ mark. However, it subsequently declined over four days to the low $90,000s but has recently rebounded to around $97,000. As of 8 p.m. (U.S. Eastern Time) on the 28th, Bitcoin was trading at about $95,570 per coin.
With the pro-crypto Trump returning to the White House, the cryptocurrency industry is envisioning a rosy future. According to data compiled by Bloomberg, after Trump’s presidential victory, about $6.9 billion (approximately 10 trillion KRW) flowed into Bitcoin spot ETFs alone. The total assets of 12 Bitcoin spot ETFs listed in New York amount to about $100 billion (approximately 139 trillion KRW).
Alex Sohn, head of research at Galaxy Digital LP, noted, “Once some leverage is cleared and short-term buyers finish profit-taking, Bitcoin could secure a strong support base and attempt to break the $100,000 mark again.”