Paul Krugman's 10-Year History of Being Wrong About Bitcoin

Paul Krugman's 10-Year History of Being Wrong About Bitcoin

Reason.comReason.com10 Jun 2021 | 20:00 pm
Nobel Prize-winning economist Paul Krugman has argued that bitcoin is a waste of resources. He compared bitcoin to gold in 2011, claiming that a bitcoin standard would make the world much worse off because central bankers would not be able to increase the money supply to stimulate the economy during economic recessions. The entire point of bitcoin is to persist in the face of governments that try to force citizens into only using the government-approved form of money.