As Bitcoin enjoys a rally, more and more Bitcoin skeptics are changing their tune. This time it’s Dr. Doom’, Nouriel Roubini.
In an interview with Yahoo Finance, the professor of economics at New York University’s Stern School of Business and CEO of Roubini Macro Associates who has called BItcoin previously a “mother of all scams” said it could be a store of value, in part, but maintained that it is not currency. He said,
“Bitcoin is not a currency.
It’s maybe a partial store of value because, unlike thousands of other what I call shitcoins, it cannot be so easily debased because there is at least an algorithm that decides how much the supply of Bitcoin raises over time, because for most of those other ones, literally, is done ad hoc, and they’re being debased faster than what the Fed is doing.”
