Nassim Taleb, philosopher and author of the cult work "The Black Swan," has said that regulatory uncertainty in the crypto market creates a ground for civil lawsuits.
According to him:
"Bitcoin will be a gold mine for lawyers. When regulations are fuzzy, there is a lot of room for civil suits, as with the junk bond debacle (in additional to criminal ones, e.g. Milken). If you bought cryptos based on an EXPLICIT recommendation, make sure you have the screenshots."
He has also stressed that he considers Bitcoin to be a "proof of intelligence". According to him, the significance of blockchain technology is to exclude third parties from the chain of financial interactions, such as escrow services. However, large cryptocurrency holders such as MicroStrategy use custody accounts, the philosopher has explained.
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In comments to the post some users have pointed out that Michael Saylor's company holds only 15% of its assets in a deposit account. Taleb has responded that MicroStrategy uses collateral held by the custodian to fund its activities.