2 years ago
Quick take:
- Dr. Nouriel Roubini is reportedly moving connected a tokenized plus that is much resilient than the US dollar
- He is moving with Dubai-based Atlas Capital Team LP
- Dr. Roubini emphasizes that the token volition beryllium backed by existent assets, a substance of short-term US Treasuries, gold, and US property
- His engagement successful a crypto-project comes arsenic a astonishment arsenic Dr. Roubini has a past of bashing the industry, referring to Bitcoin and DeFi arsenic ‘vaporware’
Dr. Nouriel Roubini, commonly known arsenic Bitcoin’s Dr. Doom, is reportedly moving connected respective fiscal products including a tokenized plus designed to beryllium much resilient than the US dollar ‘in the look of higher inflation, clime alteration and civilian unrest.’
According to a report by Bloomberg, Bitcoin’s Dr. Doom is moving with Dubai-based Atlas Capital Team LP, wherever helium has been moving for the past 2 years arsenic co-founder and main economist. The tokenized plus task is geared towards attempting to lick increasing concerns implicit the accelerated gait of ostentation and the anxiousness surrounding the semipermanent aboriginal of the USD.
Dr. Roubini expanded connected this information successful a caller interrogation wherever helium said:
[The Fed] prints excessively overmuch wealth and adversaries commencement de-dollarizing. We recognized that America’s dollar reserve currency could beryllium astatine hazard and are moving to make a caller instrumentality that’s efficaciously a much resilient dollar.
The Token Will beryllium Backed By Real Assets
The tokenized plus by Dr. Roubini is planned to beryllium backed by existent assets, including a substance of short-term US Treasuries, gold, and US spot successful the signifier of Real Estate Investment Trusts. Such assets are expected not to beryllium affected by clime alteration compared to others.
Atlas Capital’s co-founder and CEO Reza Bundy further elaborated however the token would work. He said:
Our extremity is to make a planetary store of value. This is thing akin to a substitute for Treasuries, oregon a integer plus that has outgo features successful it.
Launch of Such a Token Comes arsenic a Surprise; Dr. Doom has Been Against Bitcoin and DeFi
Dr. Roubini’s engagement successful a integer plus task comes arsenic a astonishment arsenic helium has a past of bashing Bitcoin, different cryptocurrencies, and DeFi arsenic a whole.
In 1 specified example, he stated that DeFi was vaporware from its inception and that blockchain exertion was ‘the astir over-hyped exertion successful quality history.’ In different instance, helium pointed out that ‘The Flintstones had a much blase monetary strategy (than tokenized bitcoin/shitcoins) based connected a azygous numeraire benchmark: the cartoon cavemen utilized shells.’
[Feature representation courtesy of Nouriel Roubini connected Facebook]
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