The post Harvard Economist Rogoff Reflects On Stunning Miss appeared on BitcoinEthereumNews.com.

Remember that bold forecast from 2018? Harvard economist Kenneth Rogoff famously suggested that Bitcoin was “more likely” to tumble to $100 than surge past $10,000. Fast forward to 2025, and Bitcoin is trading at a staggering $113,260, having recently hit an all-time high of $124,128. This dramatic rise has prompted Rogoff to reflect on his much-discussed Bitcoin prediction, offering valuable insights into the unpredictable nature of digital assets. Why Did the Bitcoin Prediction Go Wrong? Rogoff’s original thesis was straightforward: he believed Bitcoin’s primary use case was illicit activity. Consequently, he anticipated a global regulatory crackdown that would suppress its value. However, the reality unfolded quite differently. Speaking on X (formerly Twitter), Rogoff cited several key factors that led to his inaccurate forecast: Lack of Effective Regulation: Contrary to expectations, comprehensive global regulation did not materialize swiftly. This allowed Bitcoin to grow without the anticipated governmental constraints. Unexpected Adoption: Beyond illicit uses, Bitcoin saw significant and unexpected adoption. This included institutional investment, corporate treasuries, and growing mainstream acceptance, expanding its utility far beyond what was initially perceived. Regulatory Inaction: While discussions about regulation continued, concrete, coordinated global action that would cripple Bitcoin’s value largely remained absent, or was too slow to impact its momentum. These elements combined to create an environment where Bitcoin could flourish, directly contradicting the economist’s earlier Bitcoin prediction. The Unstoppable Rise of Bitcoin The journey from $10,000 to over $113,000 has been nothing short of remarkable. Bitcoin’s resilience and growth highlight a fundamental shift in how the world views digital currencies. What was once seen purely as a speculative or niche asset has evolved into a significant player in the global financial landscape. Its decentralized nature, coupled with increasing liquidity and infrastructure development, has fueled this impressive ascent. Many factors contributed to this growth, including: Growing…

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Filed under: News - @ August 20, 2025 1:27 am