Harvard’s economist Kenneth Rogoff, who once predicted Bitcoin earlier to crash at $ 100 before it reached $ 100,000, admitted that much has changed since his comments seven years ago – even though he still didn’t seem to go around Bitcoin.
“Almost a decade ago, I was The Harvard Economist who said Bitcoin was more likely to cost $ 100 than 100K. What did I miss?” She is write To X on Wednesday, referring to a segment at CNBC’s “Squawk Box” in March 2018.
Rogoff is a former chief economist of the International Monetary Fund (IMF) and also has’Our dollar, your problem‘, which was published in May.
In 2018, Rogoff said the government regulation will resort to a collapse in bitcoin prices.
However, since the Trump administration won the election in November, it broke $ 100,000 in December 2024 and climbed more than 80% in a new high time.
“I’m far from being optimistic about the US feeling about reasonable cryptocurrency regulation,” he Saysindicating his stance in crypto has not changed.
Bitcoin competes with Fiat Currency
“Second, I do not appreciate how Bitcoin will compete with Fiat currencies to serve as medium transactions selected in twenty-trillion global underground economics,” he continued in X.
However, Bitcoin has become a Inflation hedge In many countries where local currencies are a huge amount of governments.
The forbidden activity tied to cryptocurrencies was around $ 50 billion in 2024, According to In chainalysis, but it is a fall in the ocean and less than 1% of what is laundered using cash.
“Third, I do not expect a situation where the regulators, and especially the leader regulator, may be a sarcastic handling of the road -millions (if not billions of dollars in cryptocurrencies that seem to have no consequences to be given a flawless -in -law of interest.”
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Crypto X decided to take it as a win still
Bitwise’s chief investment officer Matt Hougan, ReplySaying that Rogoff has “failed to think that a decentralized project, drawing power from humans and non -centralized institutions, could overcome the size.”
Meanwhile, a researcher at the Digital Assets Brokerage Falconx, David Lawant, Says She is “grateful” to Rogoff, as her book ‘The curse of cash‘Is “awkward” this is “one of the things that pushed me to BTC.”
Head of Digital Assets Research and Vaneck, Matthew Sigel, Na -Post His list of Bitcoin’s strongest critics on Tuesday, which ranked the Rogoff in the nineteenth place. He first wrote the Bitcoin obituary from inside his own Echo room, “Sigel said.
“Maybe you missed it because you live in an echo room, just like when you locked in response,” he addedRogoff is referred to preventing people from responding to his posts in X.
“Basis Basis: Fiat Debasement, Demographic Wealth Shifts, and Global Demand for a neutral reserve asset.”
In particular, the Harvard Management Company, responsible for managing the university’s $ 53 billion endowment fund, reported a $ 116 million investment In the area of Blackrock’s Bitcoin ETF earlier this month.
⚡ Flashback: In 2018, a Harvard economist said $ Btc is more likely to hit $ 100 than $ 100k.
Now they invested $ 116M. pic.twitter.com/yddzylmzdk
– Cointelegraph (@cointelegraph) August 10, 2025
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