11:22Former IMF Chief Economist Calls Bitcoin (BTC) A Classic Bubble
Just as the Bitcoin (BTC) price scales new heights, a lot of world leaders and economists have started speaking about the world’s third-largest asset class after Gold and Silver. Raghuram Rajan, former IMF Chief Economist (2003-2007) who had correctly predicted the 2008 financial crisis has recently spoken about Bitcoin (BTC).
Rajan’s views are something that not many of us Bitcoin enthusiasts would like to hear. During an exclusive interview with ETNow last Wednesday, Rajan called Bitcoin a ‘classic bubble’. Rajan’s comments came just at a time when Bitcoin (BTC) entered strong price correction.
Last year during an interview with CNBC, Rajan said that Bitcoin can co-exist with central bank digital currencies (CBDCs).
World Leaders’ Views On Bitcoin (BTC)
With Bitcoin’s (BTC) rapid rally recently to $40,000 and more, world leaders have jumped in with their opinions. However, they remain divided on their thinking about BTC. Last week, the President of the European Central Bank – Christine Lagarde – called Bitcoin a “funny business” and a “speculative asset”.
Also, former Canadian PM Stephen Harper called Bitcoin’s (BTC) use as a reserve currency will expand in the future.
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