Bitcoin Price ‘More Likely To Hit $100’ Without Illicit Uses, Says Harvard Economist
From Cointelegraph
A Harvard economist told CNBC Tuesday, March 6 that Bitcoin is “more likely to be worth $100 than $100,000” by 2028. Speaking to reporters during an edition of the network’s Squawk Box segment, professor and economist Kenneth Rogoff implied Bitcoin only had value because of its use in “money laundering and tax evasion.”Read more: https://cointelegraph.com/news/bitcoin-price-more-likely-to-hit-100-without-illicit-uses-says-harvard-economist“I would see $100 as being a lot more likely than $100,000 ten years from now,” he said, continuing:
“Basically, if you take away the possibility of money laundering and tax evasion, [Bitcoin’s] actual uses as a transaction vehicle are very small.”
Rogoff joins a diminishing number of traditional finance figures still maintaining a firm anti-Bitcoin stance. Despite high-profile naysayers such as JPMorgan CEO Jamie Dimon U-turning on their negative opinions in recent months, others remain highly skeptical.
Last month, Berkshire Hathaway vice president Charlie Munger adopted a particularly harsh tone, telling the audience during an AGM speech that Bitcoin was “totally asinine” and that people investing in it “disgusted” him.
Well since it will always have an illicit use like any currency or store of value then we don't have to worry about this fear monger's predictions of $100.
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That guy's a goof lol
Pfhahaha! Is this guy serious? There are still people trying to peddle this nonsense? I thought it was pretty elementary at this point. Nothing buy the actual blockchain code being hacked could actually stop the price of bitcoin from going up long term - and for reasons that are obvious that is nearly impossible as things stand. A lot would have to change for that prediction to make any sense as a long term prediction.
100% agree with you mate!
Bitcoin is failed. Merchants have started rejecting it, there's half a dozen forks each with their own fix for the original bad code and there's hundreds of better options like Steem.
Cryptocurrency itself might become an actual, viable currency someday but Bitcoin won't.
Even for the illicit uses there are coins that are more focused on privacy, right?
By 2028 it seems likely that there will be a new alpha coin with superior technology, and BTC will be a relic on the dust heap of innovation.
Like myspace.com. A major innovation and the market leader for many years. That was dethroned by better and faster innovation.
Why would anyone expect BTC to last forever at the top of the heap, or even to last a decade at the top of the heap, when that is a very rare result for any new innovative technology
Exactly.
I SAAAAAAAY BULL CRAP! "Not an economist"
Nope, Harvard had it right! Lol 🤣
I guess the same could be said of USD, but luckily USD remains the worlds go to currency for illicit activity, so the value has not collapsed