Because bitcoin is not tied to any particular government or country, it is often seen as a valuable asset and a hedge against other financial sectors. However, Nassim Taleb, a former risk analyst and author, disagrees.

In an interview with CNBC on Friday, after pointing out the similarities between bitcoin (BTC) and the Ponzi scheme, Taleb said: There is no correlation between inflation and money. No.

He added:

I mean, you can have hyperinflation and Bitcoin is at zero. There’s no connection between them.

This is not the first time Taleb has expressed skepticism about bitcoin. Earlier in the year, he talked about selling his BTC holdings and said he had problems with their volatility. However, his position was based on bitcoin being a currency rather than a store of value, a role the asset has assumed over the years.

However, Taleb seems to have fully appreciated the technology behind BTC. It’s a perfectly tuned cryptographic system, he told CNBC. It’s well done, but there’s absolutely no reason to associate it with anything economic, he added.

If you want to protect yourself from inflation, buy land. Rusty, I don’t know, olives on him. You know, you’re going to have olive oil, if the price collapses, you’re going to have something, but bitcoin has no connection.

He described the importance of owning cash generating vehicles and called bitcoin a gimmick. Taleb also made other comments about bitcoin in the interview, including about currencies versus speculative assets.

Last year, Taleb called most bitcoin supporters idiots, due to their lack of knowledge of economics.

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