Harvard economist admits he was wrong about Bitcoin falling to $100
Harvard economist Kenneth Rogoff, who predicted that Bitcoin would likely fall to $100 before reaching $100,000, admitted he was wrong about three things.
Harvard economist Kenneth Rogoff, who once predicted that Bitcoin would likely fall to $100 before reaching $100,000, acknowledged that much has changed since his comments seven years ago, although he apparently still hasn't been convinced about Bitcoin.
"Almost a decade ago, I was the Harvard economist who said that Bitcoin was more likely to be worth $100 than $100,000. What did I miss?" he wrote on Wednesday on X, referring to a segment on CNBC's Squawk Box in March 2018.
Rogoff is a former chief economist of the International Monetary Fund (IMF) and also the author of "Our Dollar, Your Problem," a book published in May.
In 2018, Rogoff stated that government regulation would cause a drop in Bitcoin prices.
However, since the Trump administration won the elections in November, Bitcoin surpassed $100,000 in December 2024 and has risen over 80% to a new all-time high.
I was too optimistic about the U.S. regaining its sense regarding sensible cryptocurrency regulation," he said, indicating that his stance on cryptocurrencies has not changed.
