Bloomberg Anchors Stunned To Find Out Crypto Traders Develop Gambling Problems

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by Tyler Durden
Wednesday, May 04, 2022 - 09:45 AM

Today in "yet another example of 'experts' being years behind the curve" news...

A crypto focused Bloomberg segment that aired today and was posted to Bloomberg's crypto Twitter account made the stunning revelation that trading bitcoin can be...gasp...addictive!

And of course, what would pointing out the total obvious be without having a minutes long segment, wherein an "expert" presents findings that everyone else in the world has known about for years, while wearing a suit and sounding pretentious?

"Around the world, treatment centers are creating programs for retail traders who have become addicted to trading cryptocurrencies," Bloomberg tweeted on Tuesday. The same Tweet has the following video:

"What on earth is it that are they addicted to," one anchor, apparently unaware that you can trade bitcoin 24 hours a day, with leverage, asks. "Is it bitcoin? This seems to be a question of what part about the process of cryptocurrencies have these addictive qualities?"

"...psychiatrists, clinicians, have been thinking about the addictive qualities of cryptocurrencies and asking 'is this addictive?" the "expert" responds. "Cryptocurrency trading in excess can seem like gambling," the expert says. 

"The consensus view that seems to be emerging is that cryptocurrency addiction in excess can resemble gambling disorder," he says. "But it's really important to know, this is a small amount of people."

Dylan Kerr, an online therapist in Thailand who says has treated about 15 self-professed crypto addicts and accepts payment in cryptocurrency, was quicker to draw the the obvious comparison to gambling. He told Bloomberg in a corresponding writeup: 

“It’s very similar to being at a roulette table. It’s seemingly never ending, and it demands your attention. If you take your eyes off the prize, you could miss out on massive opportunities and incur massive penalties.”