Bitcoin Will Be ‘Worthless’ In 10 Years, Finance Nobel Prize Winner Says
The post Bitcoin Will Be ‘Worthless’ In 10 Years, Finance Nobel Prize Winner Says appeared on BitcoinEthereumNews.com.
People have always doubted Bitcoin, but when a Nobel Prize-winning economist said it will eventually fail, many paid attention. Eugene Fama, known as the “father of modern finance,” thinks that Bitcoin will eventually be worth nothing. What is his reason? Bitcoin has no true value, doesn’t work well for buying and selling, and doesn’t fit within regular banking systems. Does his case make sense? Bitcoin’s Weaknesses: A Fatal Flaw Or Misunderstood Evolution? Fama is mainly worried about how unpredictable Bitcoin is. For a currency to work well, it must be stable. Bitcoin changes in value a lot, making it hard for companies to accept it as payment. Fama believes that Bitcoin’s uncertainty makes it difficult to use as a way to buy and sell things. He also argues that Bitcoin lacks the backing of a central authority. Unlike fiat currencies, which governments support, Bitcoin derives value purely from market speculation and demand. If the demand disappears, the price goes to zero. That’s his core thesis, but is it the whole story? Nobel Laureate Eugene Fama Predicts Bitcoin Will Become Worthless https://t.co/smpQyoODmh via @ProMarket_org — The Activist Investor (@activistinvestr) January 31, 2025 The Store Of Value Debate: Is Bitcoin Digital Gold? Critics of Fama’s argument point out that Bitcoin isn’t just trying to be a currency—it’s evolving into something else. Many see it as digital gold, a store of value immune to inflation and government control. Unlike traditional currencies, Bitcoin has a fixed supply of 21 million coins, making it scarce and potentially deflationary. NEW: “NOBEL LAUREATE” EUGENE FAMA PREDICTS BITCOIN WILL “GO TO $0 IN 10 YEARS” What an idiot 🤡 pic.twitter.com/dVz4x4y2ol — The Bitcoin Historian (@pete_rizzo_) January 30, 2025 In that sense, Bitcoin’s volatility could be a feature rather than a flaw. Gold isn’t used in everyday transactions, yet…
Filed under: News - @ February 2, 2025 9:15 pm