Published on July 10th, 2018 | by bitcoin0
Former World Bank Leading Economist: Bitcoin will collapse due to increasing Government regulations
Three major American economists have recently spoken negatively about Bitcoin’s (BTC) chances for survival in an interview with Financial News today, July 9.
Joseph Stiglitz, Kenneth Rogoff, and Nouriel Roubini all made statements arguing that Bitcoin will fail as a currency, namely criticizing the cryptocurrency’s absence of intrinsic value and its price volatility.
He also spoke to government involvement in the crypto sphere, warning that “people in power” will take care of regulating “anonymous transactions.” Roubini, the NYU economist also known as “Dr.
Doom” for allegedly predicting the 2008 financial crisis, argued that Bitcoin fulfills “none of” the characteristics of money.
Yesterday, the central bank the Bank of Korea (BOK) also claimed that crypto assets do not pose risks to the local financial market given their “not really big” volume compared with other equity markets.