BUSINESS NEWS

Bitcoin is not the ‘currency for the future,’ it is too Volatile- US Economist

A United States’ Economist at John’s Hopkins, Stephen Hanke has kicked against the notion that Bitcoin is the currency for the future.

Hanke, who is also an avid Buhari critic noted that the digital currency is not even a currency at all because of its volatility, as it is known for frequent fluctuations.

Stephen Hanke.

Hanke who is also a Senior Fellow and Director of Troubled Currencies at the Cato Institute, said in a tweet that Bitcoin only has the value of zero.

“Bitcoin is not the ‘currency of the future.’ In fact, it’s not a currency at all. Its extreme volatility is a constant reminder that it will NEVER serve as a true currency. Bitcoin is nothing more than a highly speculative asset with a fundamental value of ZERO.”

Categories: BUSINESS NEWS, News

Tagged as: ,

Leave a Reply