Andrew Left, founder of Citron Research says the idea of decentralization, where power is shifted from the hands of centralized entities is the “stupidest thing ever” and pointed out that the only utility Bitcoin has is that it is a collective consciousness of people, with people buying because others are.
Web3 a big illusion
Left, one of the world’s best-known short-sellers, in an exclusive interview with Benzinga, said that Web3 is a big illusion, and it is only aimed at taking power away from big technology companies.
“I do not see any value in cryptocurrencies, especially altcoins. They do not have any utility. And Web3 is a big illusion aimed at taking power away from big tech companies… In a world where the Internet needs more governance, it is the most stupidest thing …
Full story available on Benzinga.com