In 2018, Kenneth S Rogoff, professor of Economics at Harvard University and former Chief Economist of the International Monetary Fund, Bitcoin predicted
It was more likely to value $ 100 than $ 100,000 in a decade.
Actually, the price of Bitcoin increased above $ 100,000 this year, an increase of 10 times from the level of less than $ 10,000 March 2018 when Rogoff predicted the accident.
On Tuesday, with Bitcoin around $ 113,000, Rogoff reflected on how he had lost the brand, saying that he had been “too optimistic about the United States to reach his senses with respect to the sensitive regulation of cryptocurrencies.”
In a publication about X, Harvard economist Ken Rogoff Express said he had waited for political leaders to adopt a firm position to stop the use of cryptocurrencies in tax evasion and illegal activities. It was indirectly, criticizing the regulatory environment as less than prudent and allowing cryptocurrencies as BTC to flourish in a way that did not anticipate.
Rogoff underestimated how Bitcoin would compete with fiduciary currencies to serve as the means of transaction of choice in the global underground economy of 20 billion dollars.
“This demand puts an apartment at its price, as a discuss in my new book our dollar, its problem,” Rogoff said.
It also marked a “flagrant interest conflict”, with regulators “with hundreds of millions (if not billions) of dollars in cryptocurrencies apparently without consequences. “
