“The Big Short” Author Says Crypto Could Crash
Michael Lewis, the American author and financial journalist behind "Moneyball" and "The Big Short," is convinced that cryptocurrency may come "crashing down," according to his recent interview with Yahoo! Finance.Lewis has mentioned that Bitcoin is essentially a faith-based asset, which might not be sustainable in the long term.
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Still, he does believe that cryptocurrencies are "more egalitarian" compared to traditional finance. The author argues that the cryptocurrency market is "more equal" than stocks since retail traders deal directly with crypto exchanges, thus eliminating the middleman.He further praised the decentralized finance sector, arguing that it could ...