Nobel laureate in Economics and Yale University Professor Robert George. Schiller (Robert J. Shiller) believes that although bitcoin could be a bubble, it does not mean that it will burst and disappear forever. He told this in an interview with CNBC.
“Bitcoin interests me as a kind of bubble. This does not mean that it will disappear or explode. He could be with us for some time”, – explained the scientist.
According to Shiller, Bitcoin is another example of the “fashion of human behavior”. “It’s glamorous,” he added.
According to the Professor, he knows that many “smart people” have invested in cryptocurrencies-including his students. However, he noted that the interest in digital currencies goes beyond the merits of the idea itself. “It’s more a psychological process than what can be explained by the Department of computer science” – said the scientist.
According to Schiller, the cryptocurrency bubble is partially due to political reasons because the people who do not trust their governments, may be tempted to invest in these assets.
Recall that in January, Schiller compared the interest in bitcoin with the Tulip mania of the 17th century and stressed that now “bubbles everywhere”, but what to do it with bitcoin, he doesn’t know.
A month earlier, in December, the scientist said that the value of bitcoin is “extremely doubtful”.
Source
