Nobel Prize-winning economist Eugene Fama foresaw a 100% probability that Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency, will lose all of its value within the next decade.
What Happened: During an interview on the Capitalisn’t podcast, the “father of modern finance” was asked about the likelihood of Bitcoin’s value plummeting to zero in the next 10 years, to which he replied, “I would say it’s close to one.”
Fama stated that cryptocurrency runs against all that is known about monetary theory.
Fama’s doubts about cryptocurrencies were rooted in their inherent instability. He argued that they contradict the essential principles of a medium of exchange due to their fluctuating real value.
“They don’t have a stable real value, you know. They have highly variable real value. That kind of a medium of exchange is not …
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