'Black Swan' Author Criticizes Bitcoin As Balaji Srinivasan Settles $1M Bet: 'Product Designed By Toddlers'

Nassim Nicholas Taleb, author of the ‘Black Swan,’ on Wednesday criticized Bitcoin (CRYPTO: BTC) by stating that it’s a “product designed by toddlers for use by children.” What Happened: Taleb was responding to Balaji Srinivasan, former CTO at Coinbase (NASDAQ:COIN), who conceded defeat after closing his $1 million bet on Bitcoin as the apex cryptocurrency declined 97% below the target price.