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According to Kenneth Rogoff, a professor of Harvard economy, Bitcoin remains power and growth due to regulatory failure, brief administration increase and unfair corruption.
Rogoff described X on Tuesday why, in his opinion, the 2018 call he announced about the property missed the sign.
Former 2018 CNBC, chief economist at the International Monetary Fund, said Bitcoin has more chances to break $ 100 than $ 100,000. Why? He reasoned that governments would eliminate the use of assets around the world, as he believed the only case of his use was to wash money and tax evasion. Seven years later, the market has proven that Rogoff is wrong, since the value of the property has since increased more than ten times to increase the $ 100,000 mark.
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Although his price forecast may have come in, Rogoff does not believe his main assumptions about Bitcoin are incorrect.
“What am I missing?” He said Tuesday. “I was too optimistic when the US understood the reasonable regulation of cryptocurrencies; why would political makers want to facilitate tax evasion and illegal activities?”
“I did not appreciate how Bitcoin will compete with Fiat currencies to serve as a choice of operations in the global underground economy,” he continued, adding: interest.
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However, Rogoff’s claims for Bitcoin supporters only prove that he has no idea yet.
TLDR: Fiat Economist still doesn’t understand Bitcoin. Blames everyone except themselves for lacking it, ”the famous market commentator Anthony Pomplyano said.
According to Coinbase (Nasdaq: Coin) Chief Policy Officer Theodore ShirzadWhat Rogoff actually missed was the impact of Blockchain technology.