Nobel Prize-winning Yale Professor of Economics Robert Shiller, in an interview with CNBC on Thursday, January 18, previously described Bitcoin as “the most beautiful bubble”. He said he “doesn’t know what will happen to Bitcoin as a result.” In his statement, he said that what attracts the public’s attention in Bitcoin is the “story” of Bitcoin, not its value. Shiller told reporters:
“Bitcoin has no value, but there is a consensus that it does. It goes out if people don’t see it as an investment, but it would at least have some value when the same happens to other things like gold. ”
He also reiterated that he agreed with the view that investing in Bitcoin resembled the 17th century Tulip Madness.
Despite admitting his uncertainty about the fate of Bitcoin, Shiller was generally skeptical of Bitcoin, saying:
“Bitcoin can be completely crashed and forgotten. I think this is the most likely outcome. On the contrary, it can stay in the game for a long time and be here even 100 years from now.”
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