Skip to main content

Nobel Prize-Winning Economist Robert Shiller Mulls Over Getting Active in the Bitcoin Market

Nobel Prize-Winning Economist Robert Shiller Mulls Over Getting Active in the Bitcoin Market

Nobel laureate and professor at Yale University, Robert Shiller, is tempted by the crypto market. He is mulling over investing in cryptocurrency to experience the market. “I never bought bitcoin. Maybe I should be active in that market,” he said.

Yale Professor and Nobel Prize Winner Mulls Over Getting Into Crypto

Nobel laureate Robert Shiller talked about cryptocurrency in an interview with CNBC, published Sunday. Shiller won The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2013 alongside Eugene Fama, Lars Peter Hansen “for their empirical analysis of asset prices,” The Nobel Prize’s website details. He is currently Sterling Professor of Economics at Yale University.

Shiller is concerned about the current housing market, stocks, and cryptocurrencies, stating that he sees a “wild west” mentality among investors in these markets.

Discussing the crypto market in particular, Shiller said “That’s a very psychological market. It’s impressive technology.” However, he argued that “the ultimate source of value is so ambiguous that it has a lot to do with our narratives rather than reality.”

Nonetheless, he said he has been tempted to get into crypto. The Nobel Prize-winning economist shared:

I was thinking of buying them to experience the effect. A lot of people do that actually. I never bought bitcoin. Maybe I should be active in that market.

Shiller has always been a bitcoin skeptic. In 2017, he said that the best example of “irrational exuberance or speculative bubbles” was bitcoin. In 2018, he said that it looks like a bubble and questioned whether the cryptocurrency will be around in 100 years. Nonetheless, he noted, “I don’t mean to be dismissive of bitcoin,” adding that something good may come out of cryptocurrency.

Meanwhile, another Nobel laureate Paul Krugman said last week that he has given up predicting the imminent demise of bitcoin, stating that “There always seem to be a new crop of believers. Maybe just think of it as a cult that can survive indefinitely.”

Do you think Nobel laureate Robert Shiller should buy bitcoin? Let us know in the comments section below.



from Bitcoin News https://ift.tt/2SjdT17
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more