Harvard Professor, Kenneth Rogoff, says Bitcoin Regulation Is Inevitable
In an interview with Bloomberg, Harvard professor Kenneth Rogoff had strong sentiments about the future of Bitcoins. According to Professor Rogoff, governments’ regulation of cryptocurrencies is undoubtedly coming.
Professor Rogoff is a former Chief Economist at the International Monetary Fund and identifies as a Bitcoin skeptic. RePEc ranks him among its top ten economists. Although he confirms his statements as speculative, he justifiably questions the end-game of the continued rise in Bitcoins’ price and popularity. Ultimately, the Bitcoin bubble will burst, and there will be no use for it in the long-run.
The Harvard professor continues to share his theory that states will not allow Bitcoin to take over despite its rising popularity. Ideally, Bitcoins’ price will continue to rise, surpassing the traditional currency and maintain its pseudo-anonymous transactions. In that case, the likely results are failed states and the collapse of the current monetary systems. However, Rogoff affirms that there is no way governments will allow this to happen.
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