U.Today – Musician Sean Ono Lennon, the youngest son of the legendary John Lennon of the Beatles, is a staunch advocate of cryptocurrencies. He first mentioned in his interviews in 2020, when the world was suffering greatly from the pandemic, that BTC had given him hope.
Lennon's tweet about the stock market crash
Sean Lennon occasionally tweets about cryptocurrency projects that he finds interesting. However, on August 6, he addressed the topic that caused the 24% crash in the price of Bitcoin that ended on Tuesday, as well as sending the stock market into a tailspin.
Lennon called on the US government to comment on the stock market crisis, adding that the X community deserves to have “a little chat, a little peace of mind.”
As previously reported, the stock market fell sharply in the US after an even worse situation occurred in the Japanese stock market last week, largely caused by the interest rate hike earlier made by the Bank of Japan.
Bitcoin reacted to the market crash with a massive drop, dragging down the rest of the cryptocurrency markets.
The author of “The Black Swan” comments on the fall of the Japanese market
Earlier this week, risk analyst, academic and author Nassim Taleb (author of the “Black Swan” concept and the eponymous book on managing uncertainty in markets and in life) also commented on the stock market collapse facing Japan.
Taleb noted that for the previous 33 years, Japan had kept its interest rates close to zero, adding only quantitative easing measures. All of this has “a price that, at some point, has to be paid,” the academic concluded. He added that proponents of quantitative easing have always cited Japan as “a place where the strategy worked.”
This article was originally published on U.Today
