Nobel laureate and professor at Yale University, Robert Shiller, is seduced by the crypto market. He’s thinking about investing in cryptocurrency to see the market. “I never bought Bitcoin. Maybe I should be active in this market, ”he said.
Yale professor and Nobel laureate Mulls on getting started with crypto
Nobel laureate Robert Shiller spoke about cryptocurrency in an interview published on Sunday with CNBC. In 2013 Shiller won the Sveriges Riksbank Prize for Economics in memory of Alfred Nobel together with Eugene Fama and Lars Peter Hansen. He is currently the Sterling Professor of Economics at Yale University.
Shiller is concerned about the current real estate market, stocks and cryptocurrencies, and says he sees a “wild west” mentality among investors in these markets.
Speaking of the crypto market in particular, Shiller said, “It’s a very psychological market. It’s an impressive technology.” However, he argued that “the ultimate source of value is so ambiguous that it has a lot to do with our narratives rather than reality Has.”
Even so, he said he was tempted to get into crypto. The Nobel Prize-winning economist said:
I thought of buying them to see the effect. Lots of people actually do that. I never bought bitcoin. Maybe I should be active in this market.
Shiller has always been a bitcoin skeptic. In 2017, Bitcoin is the best example of “irrational exuberance or speculative bubbles”. In 2018, he said it looked like a bubble and asked if the cryptocurrency will exist in 100 years. Still, he noted, “I don’t want to reject Bitcoin,” adding that something good may come of the cryptocurrency.
Meanwhile, another Nobel Prize winner, Paul Krugman, said last week that he had given up on predicting Bitcoin’s imminent demise, stating, “There always seems to be a new group of believers. Perhaps think of this as a cult that can survive indefinitely. “
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