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June 28, 2022
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Samy Dana on Bitcoin: “I messed up”

For years, the economist has shown great skepticism regarding the digital asset. However, he finally admitted his mistake.

Economist Samy Dana is well known to cryptocurrency users. His bitter and defensive criticisms of Bitcoin have become a meme on social media. However, in talk held in Ticaracaticast, his view of the decentralized economy seems to have changed.

After all, since its first criticism of Bitcoin, held in 2014 on Globo, the digital asset has valued around 20,000%. Amid the global devaluation of fiat currencies, political tensions and heightened social inequalities during the coronavirus pandemic, digital assets have shown great resilience.

Despite admitting the error, Samy Dana made mea-culpa and blamed part of the blame on the network. According to him, it would have been impossible to recommend a high-risk asset to Globo’s audience:

“You’re not going to give a recommendation to invest in something risky, because there are people who don’t really understand the risk.”

The comment was made by Samy Dana after being provoked by Augusto Backes, investor and decentralized economy enthusiast:

“How much does it hurt to see Bitcoin, which he’s always ignored, be worth $68,000 a unit, and crush the Dollar and the Real?”

The economist made it clear that Bitcoin is not a scam or a bubble, but it is a risky asset. And, as with any bold investment, it is important to enter aware of what you are doing.

Today, Samy Dana admits to owning 5% of all his assets in cryptocurrencies.

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