New York University economist and bitcoin-hater Nouriel Roubini has come out of hiding to take a swipe at crypto exchanges. It’s been a while since the notorious bitcoin basher has taken to Twitter to flame bitcoin. Something about a tweet by the BitMEX exchange raised Roubini’s ire. When BitMEX announced its bitcoin derivatives volume had reached $1 billion in open interest, the professor unleashed one of his characteristically scathing polemics.
There have been many legitimate criticisms of purported volumes on exchanges. Roubini is not, however, giving the devil his due. As Joseph Young reported on Forbes Wednesday:
“The ‘Real 10’ volume of bitcoin, which refers to the verifiable daily volume of bitcoin coming from exchanges regarded by Bitwise Asset Management for having a legitimate daily volume of over $1 million, is also nearing $5 billion for the first time in 2019. At its low point in March, the Real 10 volume of bitcoin hovered at around $500 million.”