Express
Harvard Professor Casts Doubts Over Bitcoin's Ability To Succeed As An Asset, Argues Regulation Will Halt Its Potential
Summary: Kenneth Rogoff, a public policy and economics professor at Harvard University, expressed doubts during a Bloomberg interview on Thursday about Bitcoin's ability to suceed as an asset, despite it gaining a reputation as a hedge against inflation and store-of-value among the crypto community. “It's conceivable, you know, it could have some use in a dystopian ...
Kenneth Rogoff, a public policy and economics professor at Harvard University, expressed doubts during a Bloomberg interview on Thursday about Bitcoin's ability to suceed as an asset, despite it gaining a reputation as a hedge against inflation and store-of-value among the crypto community.
“It's conceivable, you know, it could have some use in a dystopian future, but I think the governments are not going to allow pseudonymous transactions on a big scale," Rogoff said. "They're just not going to allow it. The regulation will come in. The government will win. It doesn't matter what the technology is."
Bitcoin has often faced criticism from members of the traditional finance and academic spaces. However, over the course of 2020 the digital asset saw increased institutional investments from companies like Square, Microstrategy or PayPal. These investments catapulted the asset past the $40,000 price level. Rogoff argued this was the effect of speculative investment, so traders will have to see if Bitcoin maximalists or traditional financial institutions prevail.
By Emily Mason
Tags: Bitcoin,BTC,Institutional Investor,MicroStrategy,Paypal,Square
Link: Harvard Professor Casts Doubts Over Bitcoin's Ability To Succeed As An Asset, Argues Regulation Will Halt Its Potential [Copy]
