Crypto-Fool’s Gold?

ProSyn/Kenneth Rogoff/10-09-17

The price of Bitcoin is up 600% over the past 12 months, and 1,600% in the past 24 months. But the long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates – and there is no reason to expect virtual currency to avoid a similar fate.

“My best guess is that in the long run, the technology will thrive, but that the price of Bitcoin will collapse.” — Kenneth Rogoff
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