‘Big Short’ Investor Steve Eisman Says Crypto One of Three ‘Great Themes of Our Time’ – Here’s What He Means

One of the investors who called and profited off the subprime mortgage collapse of 2008 says crypto is currently one of three major themes driving today’s narrative – but he still isn’t a fan of it.

In a new interview on Bloomberg Television, Steve Eisman of Neuberger Berman says that artificial intelligence (AI), infrastructure, and crypto.

While he gets the first two themes, Eisman says he doesn’t believe in crypto.

According to the investor, digital assets have a thesis of being a hedge against inflation and fiat currencies, but then contradict it with their correlation with risk assets and the Nasdaq.

“Let’s ask the people who own crypto. Why do they own it? They all say the same thing thing. They say… It’s a hedge against the demise of fiat currency. Cats and dogs will one day lie together, you’ll be in a cave but at least you’ll have your crypto. It’s like digital gold, that’s the thesis. 

Okay, let’s take them at their word. So if that’s the thesis, then on days where everybody’s worried about inflation, they’re worried about the deficit, the Nasdaq is down 300 points and interest rates are up, crypto should be up. 

And on days where everybody’s feeling great, NVDIA’s up, and Nasdaq is up and rates are down and nobody cares about inflation, crypto should be down. And does it act that way? It does not. It acts exactly the opposite of its own thesis. Its correlation to Nasdaq is like 75%. 

So to me, it’s just another way for people to speculate on speculating. There’s no data point of research that says it is right says that it is wrong.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix


  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dk008

The post ‘Big Short’ Investor Steve Eisman Says Crypto One of Three ‘Great Themes of Our Time’ – Here’s What He Means appeared first on The Daily Hodl.