Paul Krugman, the Nobel Prize-winning economist and New York Times editorial contributor, recently lashed out in a blog post at Bitcoin and other cryptocurrencies for failing to qualify as a currency.
According to the post on Krugman’s “Conscience of a Liberal” blog, the economist said the libertarian-leaning agenda guiding many of Bitcoin’s supporters and its rollercoaster-like valuation history make it a tough sell as a new currency.
”So far, almost all of the Bitcoin discussion has been positive economics — can this actually work? And I have to say that I’m still deeply unconvinced,” Krugman wrote.
Krugman isn’t the only one to point out Bitcoin’s bubble-like trajectory. Read the latest edition of the PYMNTS Bitcoin Bubble Tracker by clicking here.
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