Bitcoin demonstrates a 75% correlation with Nasdaq: prominent investor questions the status of crypto assets

Legendary investor Steve Eisman, whose activities inspired the creation of the film “The Big Short,” recently shared a critical view of digital assets on Bloomberg TV. His position indicates growing doubts within the financial community regarding the true nature of crypto assets and their role in the economy.

The Main Paradox: Bitcoin and Its Contradictions

Eisman highlighted a fundamental contradiction in the arguments of digital currency advocates. Supporters of crypto assets often criticize the inadequacy of traditional fiat money and simultaneously position Bitcoin as the “digital gold.” However, the American financier pointed out a paradox: cryptocurrencies themselves, including Bitcoin, completely ignore the principles on which they are supposedly based.

The Statistics Speak for Themselves

Eisman’s most convincing argument relies on market statistics. The correlation coefficient between Bitcoin and the Nasdaq index is 75%, demonstrating a direct dependence of the crypto asset’s movement on traditional stock markets. This figure undermines the main narrative of Bitcoin’s “independent” nature as an alternative asset unlinked to fluctuations in traditional financial instruments.

The Three Pillars of the Modern Era: AI, Infrastructure, and Cryptocurrencies

Recognizing the importance of three key topics of our time — artificial intelligence, infrastructural development, and cryptocurrencies — Eisman clearly separates his attitude towards them. While he believes in the potential of artificial intelligence and infrastructural innovations, crypto assets remain a subject of skepticism for him.

The discussion raised by Eisman reflects a deeper conflict in understanding what digital assets truly represent — whether they indeed function as currency or are speculative assets driven by market psychology and traditional financial cycles.