Bitcoin ‘Bubble’ Is Here To Stay: Robert Shiller
According to an interview taken on April 13 with CNBC’s Trading Nation, Nobel Prize laureate for Economic Robert Shiller believes that while Bitcoin (BTC) may be an bubble, that doesn’t imply that it will blast and be gone until the end of time,
Shiller, professor of economics at Yale University, referred to BTC as “another example of faddish human behavior. It’s glamorous”:
Shiller emphasizes that he realizes that “smart people” have put resources into cryptocurrencies, including a considerable lot of students, however adds that the fascination in crypto is “a story that I think goes way beyond the merit of the idea. It is more psychological than something that could be explained by the computer science department.”
According to Shiller, there is a “part” of the cryptocurrency “fad” or “bubble” that is political, as people that don’t trust their governments may be tempted to invest.
In September 2017, Shiller went on CNBC’s Fast Money with Brian Kelly to talk similarly about crypto, saying that “it’s the quality of the story that’s attracting all this interest.”
On Friday, April 13, Brian Kelly said in an interview that he underpins investor Tim Draper’s forecast that Bitcoin’s cost could hit $250,000 by 2022.