Harvard Economist Backtracks on Bold Bitcoin Call
Kenneth Rogoff, the Harvard economist who once argued #Bitcoin $BTC was more likely to sink to $100 than ever climb toward $100K, has now admitted he was wrong on three major points.
He says he was far too optimistic about the U.S. adopting sensible crypto regulation, noting that policymakers have little incentive when this system facilitates tax evasion and illicit finance. Moreover, he underestimated how would compete directly with fiat currencies, becoming the medium of choice for large underground economies. This demand, he concedes, has placed a strong floor under Bitcoin’s price.
Rogoff also admits he did not anticipate a situation where regulators, including the regulator-in-chief, could hold massive amounts of crypto while ignoring conflicts of interest. This reality, he believes, has reshaped the conversation on oversight.
$BTC ’s resilience is now undeniable. What once seemed improbable has turned into a remarkable test of staying power, forcing even long-standing skeptics like Rogoff to rethink their stance.
#BinanceHODLerPLUME #ETHInstitutionalFlows #PowellWatch #MarketPullback
He says he was far too optimistic about the U.S. adopting sensible crypto regulation, noting that policymakers have little incentive when this system facilitates tax evasion and illicit finance. Moreover, he underestimated how would compete directly with fiat currencies, becoming the medium of choice for large underground economies. This demand, he concedes, has placed a strong floor under Bitcoin’s price.
Rogoff also admits he did not anticipate a situation where regulators, including the regulator-in-chief, could hold massive amounts of crypto while ignoring conflicts of interest. This reality, he believes, has reshaped the conversation on oversight.
$BTC ’s resilience is now undeniable. What once seemed improbable has turned into a remarkable test of staying power, forcing even long-standing skeptics like Rogoff to rethink their stance.
#BinanceHODLerPLUME #ETHInstitutionalFlows #PowellWatch #MarketPullback
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