Bitcoins: Boom Or Bust? 10 Things Experts Said About The Cryptocurrency | NDTV

Bitcoin is probably planet’s most discussed asset class and currency of 2017. The massive volatility of prices that entailed swing of 20% to 30% in either direction in a time period that is as short as 24 hours is a testimony to bitcoin’s popularity and enigma. Though some countries have embraced it legally such as Japan and Belarus, some have already outlawed it such as Bangladesh, Ecuador, Nepal, while others, such as India, have yet to take a firm stand. So, while the uncertainty over bitcoin and its future continues to prevail, some economists, central bankers, finance ministers experts have either encouraged or warned the investors.
Ten Most Important Quotes By Experts On Bitcoins

1. Nobel laureate and famous economist Joseph Stiglitz once said that ‘bitcoin is successful only because of its potential for circumvention, lack of oversight. So, it seems to me it ought to be outlawed’

2. Governor of the Bank of Japan Haruhiko Kuroda said, the price increase in bitcoin was “abnormal” and bitcoin is “being traded for investment or speculative purposes”.

3. Reserve Bank of Australia’s governor Philip Lowe said the fascination with virtual currencies such as bitcoins a “speculative mania”.

4. Union finance minister of India Arun Jaitley said, “The government’s position is clear, we don’t recognize bitcoins as legal currency as of now.”

5. Nobel-Prize winning economist Robert J Shiller called bitcoin “the best example” of a speculative bubble. He said this early this year when the bitcoin price was around $5,000. He also said, “The Bitcoin price is like a thermometer measuring the intensity of the epidemic.”

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Bitcoins: Boom Or Bust? 10 Things Experts Said About The Cryptocurrency.