In an interview with CNBC released Sunday, Nobel Laureate Robert Shiller discussed the bitcoin market. Shiller won The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2013 alongside Eugene Fama, Lars Peter Hansen “for their empirical analysis of asset prices,” The Nobel Prize’s website details. At Yale University, he is the Sterling Professor of Economics.
Bitcoin Market
Shiller is concerned about the present housing market, stock market, and cryptocurrency markets, claiming that investors in these markets have a “wild west” mentality.
Nonetheless, he said he has been tempted to get into crypto. The Nobel Prize-winning economist shared:
I was thinking of buying them to experience the effect. A lot of people do that actually. I never bought bitcoin. Maybe I should be active in the bitcoin market.
Shiller has always been a skeptic of bitcoin. Bitcoin, he argued in 2017, was the best illustration of “irrational exuberance or speculative booms.” In 2018, he claimed that the cryptocurrency appeared to be a bubble and questioned whether it would still exist in 100 years. Nonetheless, he stated, “I don’t want to discredit bitcoin,” adding that the cryptocurrency market may have a positive outcome.
Meanwhile, another Nobel laureate Paul Krugman said last week that he has given up predicting the imminent demise of bitcoin, stating that “There always seem to be a new crop of believers. Maybe just think of it as a cult that can survive indefinitely.”
Source : BitcoinEthereumNews
