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Economist Paul Krugman who has won a Nobel Prize warned against crypto's potential threat to the global economy that could be similar to the subprime mortgage crisis experienced in the late 2000s. The economist said that while digital assets may not have the same dangers, it could still end up disproportionately affecting vulnerable people.
The chief executive officer of global investment bank Morgan Stanley says that cryptocurrency, including bitcoin, is not a fad. Noting that they are not going to go away, he said: "We're watchful of it, we're respectful, and we'll wait and see how the regulators handle it."
Dogecoin skyrocketed after getting celebrity endorsements on Twitter from the Dogecoin Father, Elon Musk, and businessman Mark Cuban.
Bubbles Are Good for Bitcoin Over the last few weeks, the price of bitcoin has hit a record high of more than $41,000, blowing past the 2017 bubble high point of $19,783. The price has since declined relatively rapidly, and questions have arisen about what’s next for this latest bubble. This presents an opportune moment to analyze why these bubbles form and what they mean for the future of bitcoin. Price volatility causes market uncertainty and is often viewed as detrimental. However, for bitcoin, the price volatility – such as this recent bubble and past ones of varying sizes in 2017 an...