TechFlow, Aug 21 — According to CoinDesk, Harvard economics professor and former IMF chief economist Kenneth Rogoff reflected on his inaccurate prediction from 2018. At that time, he predicted that bitcoin was more likely to be worth $100 rather than $100,000 in ten years. However, bitcoin's actual price has now surpassed $113,000, increasing over tenfold since 2018.
Rogoff admitted he was "overly optimistic about the U.S. establishing sensible cryptocurrency regulation," underestimating bitcoin’s role within the global underground economy valued at $20 trillion, a demand that has supported bitcoin’s price. He also criticized the "clear conflict of interest" between regulators and cryptocurrencies, noting that regulators holding hundreds of millions or even billions of dollars in crypto have faced no consequences.
