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My Enemy's Enemy: Vocal Crypto Skeptic Paul Krugman Predicts Bitcoin Will Overtake Gold

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Sat, 08/18/2018 - 08:37
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Alex Dovbnya
American economist Paul Krugman did not waste an opportunity to lash out at Bitcoin, claiming that mining is an inefficient technology that hinders human progress
My Enemy's Enemy: Vocal Crypto Skeptic Paul Krugman Predicts Bitcoin Will Overtake Gold
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A prominent American economist Paul Krugman, who was one of the key speakers at ChainXchange, did not waste an opportunity to lash out at Bitcoin, claiming that mining is an inefficient technology that hinders human progress.

However, there also was a silver lining in this anti-crypto tirade– while pitting Bitcoin against gold, he actually said that the former had significantly more potential. Krugman suggests that Bitcoin might have some value in a long-term perspective, but the 2000 Nobel Prize winner is absolutely positive about gold eventually dying out as an investment.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.