Ethereum: How do Bitcoin economists see?
Distributed digital currency Bitcoin has attracted significant attention from economists around the world. Although Bitcoin’s opinions vary greatly, more and more experts have intervened on the possible impact on the world economy.
In recent years, economists have explored the possibility that Bitcoin is a reserve of value and a half exchange, similar to gold or silver. Some claim that the decentralized nature and the limited supply of Bitcoin make it attractive to investors who are looking for alternative alternatives to traditional religious currencies. Others ask if Bitcoin can offer significant financial benefits, especially in connection with the central bank’s digital currencies (CBDC).
The perspectives of significant economists
Several visible economists have intervened in Bitcoin’s potential:
* Former President Nouriel Roubini Roubini, former President of the University of New York University, declared in an interview with Bloomberg that Bitcoin is a “value trade” and that his limited supply can lead to increased price. He also claimed that the cryptocurrency market has the potential to displace traditional financial instruments.
* Michael Saylor
, CEO of Microstrategy: Michael Saylor has been a loud defender of Bitcoin as a dignity, claiming that its decentralized nature and limited supply make it attractive property. In 2020, he revealed that his company had acquired Bitcoin over $ 4 billion.
* Pascal Dusseaault , RBC’s Capital Market Chief Economist: In Bloomberg’s 2019 article, Dusseaault stated that decentralized nature and limited Bitcoin supply can lead to higher demand because more people understand property. He also suggested that CBDC could be used to monitor and solve fees in real time, which may reduce transaction costs.
* Tyler Cowen , In 2020, Cowen, Professor of Economics at George Mason University in Economics: Wall Street Journal, claimed that Bitcoin’s potential as a value is limited by its lack of liquidity and that it has no natural value. However, he also pointed out that the cryptocurrency market has shown signs of greater stability in recent months.
CBDCS vs. Bitcoin
Although some economists believe that CBDC (Central Bank’s digital currencies) will eventually replace traditional religious coins, others claim that the decentralized nature and the limited supply of Bitcoin make it a different asset.
* Gavin Andresen , Founder of Bitcoin Foundation: In an interview with Forbes 2017, Andresen claimed that CBDC “is more likely to fail than to succeed” because they do not have the same confidence and acceptance that financial instruments traditional
* Christine Lagarde , President of the European Central Bank: At the annual BCE meeting in 2020, Lagarde stated that although he is open to alternative payment systems, CBDCs are not yet ready for adoption for adoption.
conclusion
Bitcoin’s minds among economists are diverse and often contradictory. While some claim that Bitcoin can act as a value and half exchange, others question their potential effects on the world economy. As the cryptocurrency market continues to develop, it is interesting to see how economists’ perspectives on Bitco -form political decisions and regulatory methods.
Sources:
- Bloomberg: “Nouriel Roubini: Bitcoin is a value trade” (2020)
- Bloomberg: “Michael Saylor, CEO of Microstrategy, reveals a $ 4 billion investment in Bitcoin” (2020)
- RBC capital market: “Pascal Dusseaault: Possible Benefits of CBDC” (2019)
- Wall Street Journal: “Tyler Cowen says Bitcoin is a” value shop “but lacking liquidity” (2020)
Note: This article is a general description, and not an exhaustive presentation of the economist’s opinions in Bitcoin.