Bitcoin perfect example of ‘faddish human behavior’

ArticleCurrencyApril 17, 2018 - 3:53:51 AM

Nobel laureate Robert Shiller has taken his turn to bash bitcoin, calling the cryptocurrency more of a psychological experiment than a serious investment.

"I'm interested in bitcoin as a sort of bubble. It doesn't mean that it will disappear, that it'll burst forever. It may be with us for a while,” Shiller told CNBC. "To me, it's interesting as another example of faddish human behavior. It's glamorous," he added.

According to the economist, bitcoin resembles the tulip mania of the 17th century, when the price of tulip bulbs skyrocketed and then crashed in early 1637.

Shiller says he doesn’t own any bitcoin, but recognizes that some have earned on ballooning price. "I don't mean to dismiss it. Some smart people went into these and other cryptocurrencies," said Shiller...

Source:RT.com

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