Former chief economist IMF: «In the long run, Bitcoin will fall to $ 100»

Kenneth Rogoff, Professor Harvard University and the former Chief Economist IMF, considers Bitcoin «lottery ticket», since his digital nature increases the risk of collapse, and anonymity prevents confidence from governments.

In his interview, The Guardian magazine, Kenneth Rohoff said that now the main stimulus for most crypto investors is confidence in the growth of the overall capitalization of the cryprot to $ 5-10 trillion over the next five years. However, he disagrees with such views of crypto-sealelists and considers it abnormal to call Bitcoin digital gold.

According to Professor of the economy, in the long run, the BTC rate will most likely reach 100, and not $ 100,000. The main reason for this, he considers the digital nature of cryptocurrency, which allegedly makes it more vulnerable to the «bubble collapse». Another factor, he calls a high energy intensity of a network that requires much large maintenance costs than a centralized system.

Kenneth Rogoff says that Bitcoin does not necessarily fully depreciate, but in any case he is doomed to failure, since the government does not fail to use its use that contributes to tax evasion and criminal activity, and if you deprive it this feature, then It will not need for users.

The former chief economist of the IMF also notes that the regulators will gradually begin to adapt to innovations, but this will eventually lead to the ousting of private systems. Therefore, he calls the cryptocurrency «lottery ticket», which can be in demand among the failed states in the anti-astope future.

Despite the forecasts of the Harvard economist, the Russian government and business recently confirmed