Macro investor Michael Green, who is known as the Cassandra of Passive Investing, has sharpened his critique of Bitcoin, arguing that its design makes it economically brittle and socially corrosive, setting up a winner-takes-all outcome “like a Monopoly game.”

In an interview with journalist Phil Rosen, Green said “the most important thing to understand is that Bitcoin has marketed itself as multiple different things to try to appeal to investors at various points in time,” but has failed on its original brief. Under the Satoshi white paper , he noted, BTC was meant to be “a peer-to-peer payment system” that removed the dependence of payment rails on banks. “By moving to a distributed ledger and a peer-to-peer system, we’d be able to get banks out of the system.”

“That’s been a total f

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