Kenneth Rogoff, a professor of economics at Harvard University and former chief economist of the international monetary fund, reflects on his misplaced predictions in 2018, when he predicted that Bitcoin would be more likely to be worth $100 than $100,000 within a decade, and now the actual price of Bitcoin has exceeded $113,000, an increase of more than 10 times from 2018.
Rogoff said he was "overly optimistic about reasonable cryptocurrency regulation in the United States," and he underestimated bitcoin's role in the global $20 trillion underground economy, a demand that underpins bitcoin prices. He also criticized the "clear conflict of interest" between regulators and cryptocurrencies, saying regulators hold hundreds of millions or even billions of dollars in cryptocurrencies without consequences.
Harvard Professor Rogoff Admits to Undervaluing Bitcoin
2025-08-21 09:52:31
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