Nobel Prize Winner in Economics Robert Schiller: Bitcoin is a Popular Idea Like Bimetallism Robert Schiller, winner of the Nobel Prize in Economics in 2013 for his research on empirical analysis of asset prices, believes that bitcoin is a popular idea similar to that received in In the 19th century, the spread of bimetallism - a monetary system, the generally recognized equivalent of which were gold and silver. He stated this during the Closing Bell program on CNBC.

Nobel Laureate in Economics Robert Schiller: Bitcoin is a Popular Idea Like Bimetallism

Robert Schiller, recipient of the 2013 Nobel Prize in Economics for his research on the empirical analysis of asset prices, believes that bitcoin is a popular idea, similar to the spread of bimetallism in the 19th century - a monetary system of which gold and silver. He stated this during the Closing Bell program on CNBC.

“I will take bitcoin because I know I can sell it and get out of it. There seems to be some strange enthusiasm about him, ”Schiller said. “People are excited about things like new currency standards. Remember bimetallism? It became a popular idea, everyone talked about it for a while. And then he disappeared ".

At the same time, he noted that Bitcoin is not the biggest hobby of this kind..

“I think gold is a bubble, but it has always been a bubble. It has certain applications in industry, but in essence it is an idea that has not lost its popularity for thousands of years. ".

Thus, Schiller sees nothing catastrophic in the popularity of Bitcoin. Another expert with a similar thought is billionaire Michael Novogratz, who said that cryptocurrencies are a bubble that will make him a lot of money..

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