Bitcoin’s Price Bubble will Burst under Government Pressure
Kenneth Rogoff, professor of economics and public policy at Harvard University, was also the chief economist of the IMF from 2001 to 2003. In early October, he wrote an article about Bitcoin which showed enough insight to the matter. In the article, he observed that “China’s government, concerned about the use of Bitcoin in capital flight and tax evasion, has recently banned Bitcoin exchanges. Japan, on the other hand, has enshrined Bitcoin as legal tender, in an apparent bid to become the global centre of fintech. The United States is taking tentative steps to follow Japan in regulating fintech, though…