The famous Nobel Prize-winning economics professor expressed his views on the crypto market in an interview with CNBC. Details are in our news.
Crypto explanation from Nobel Prize-winning economics professor
The increasing interest in cryptocurrencies caught the attention of the famous professor. Nobel Prize-winning economics professor Robert Shiller also explained his views on cryptocurrencies in an interview broadcast on CNBC on Sunday.
See: Bitcoin news and breaking news
Shiller is a very psychological part of the crypto market. stated that there is a market, therefore it is difficult to describe the market with realities.. Despite this, he also said he is interested in crypto.
“This is a very psychological market. Impressive technology. However, the ultimate source of value is so obscure that it has more to do with our narratives than reality.”
Shiller also stated that he is enthusiastic about acquiring cryptocurrencies.
“I was considering buying them to experience the effect. In fact, many people do this. I have never bought Bitcoin. Maybe I should be active in that market.”
The famous economist who won the Nobel Prize in Economics in 2013 with Eugene Fama, Lars Peter Hansen with his studies on “empirical analysis of asset prices” is still a professor in the department of economics at Yale University.
The famous professor had previously made statements about Bitcoin.. Shiller, who used the term “irrational enthusiasm or speculative bubble” for Bitcoin in 2017, repeated the same view in 2018 and stated that Bitcoin was a bubble and stated that he questioned whether it would still be in the market 100 years later..
Shiller seems to have changed his mind in recent comments. The famous economist is not the only one who has changed his mind on the matter.. Paul Krugman, another Nobel laureate economist, also announced in the past weeks that he has abandoned the prediction that Bitcoin will disappear completely in the near future.. He stated that he thinks of Bitcoin as “a cult that will last forever”.
Source