Economist Nouriel Roubini, recognizes Bitcoin as a partial store of value. Specifically, because it cannot easily degrade.
Sure enough, Nouriel Roubini, an economics professor at New York University’s Stern School of Business and CEO of Roubini Macro Associates, joined Yahoo Finance Live on November 6. To give your opinion on Bitcoin and your perspective on the economy.
As a fun fact, Roubini is famous for his prediction of the financial crisis of 2007-2008, which is why he earned the nickname “Dr. Doom ”. It should be noted, that since the appearance of BTC, he has been a strong critic of the digital currency.
In the interview, Adam Shapiro asked Roubini about different types of cryptocurrencies. Mainly, focusing on Bitcoin.
In fact, Nouriel Roubini, spoke about Bitcoin (BTC), the digital currencies issued by central banks (CBDC). Also, about the American economy.
In effect, he stated that: “Cryptocurrency is a misnomer, because to be a currency, one needs to be a unit of account. But, nothing is priced in BTC or any other cryptocurrency, for that matter. “
Furthermore, “To be a currency, it must be a scalable means of payment and a stable store of value that is not very volatile.”
“Bitcoin is NOT a currency: it is not a unit of account, it is not a single numeraire, it is not a scalable means of payments, it is not backed by any asset, it is not legal tender, its price is highly manipulated & thus its partial store of value function is based on nothing.”
Read more: https://www.explica.co/nouriel-roubini-recognizes-bitcoin-as-a-partial-store-of-value/