Robert Shiller, a Nobel Prize-winning Yale economist, , says that he is mystified by the rise of Bitcoin—but ultimately regards the cryptocurrency as a speculative bubble that is likely to burst, reports Time magazine.
Shiller, during a CNBC interview, compared the rise in Bitcoin to “Tulipmania.”
Shiller said on CNBC, Bitcoin “might totally collapse and be forgotten and I think that’s a good likely outcome, but it could linger on for a good long time, it could be here in 100 years.”
-RW
"but it could linger on for a good long time, it could be here in 100 years"
ReplyDeleteShiller has quite a wide prediction there.. it could collapse.. or not. Wow! Way to go out on a ledge!
That's what I like see, someone putting his neck on the line and making a definitive call.
ReplyDelete"Bitcoin “might totally collapse and be forgotten and I think that’s a good likely outcome, but it could linger on for a good long time, it could be here in 100 years.” "
More 'safe mush' from an academic!Junk. Dave R.
ReplyDeleteLOL. He must be a gun-shy Keynsian hedging his bets.
ReplyDelete