Nobel laureate in economics Eugene Fama named the reasons for the inevitable devaluation of Bitcoin over the next ten years.
Fama acknowledged the high probability of creating a state Bitcoin -fund in the US, but, unlike many other experts, he assessed the consequences of this event negatively:
The establishment of the fund could have the opposite effect. If the government does this, the Bitcoin rate risks instantly falling to zero.
Eugene Fama
According to Eugene, the collapse of BTC is also supported by the theory of money, according to which the cryptocurrency has no chance of surviving in the long term, primarily due to the excessively high level of exchange rate volatility. According to Fama, this shortcoming of Bitcoin will sooner or later drive a nail into the coin's coffin.
Eugene believes that Bitcoin Even its status as an intangible analogue of precious metal will not save it.
To be called digital gold, Bitcoin must have a mechanism of use. Otherwise, it is just paper. Not paper, but air, or not even air.
Fama is confident that the Bitcoin bubble will burst, but he does not undertake to predict when exactly this will happen. If the economist's gloomy prediction does not come true and the digital asset does not depreciate, then the very existence of BTC will call into question the correctness of fundamental economic theories, and scientists will have no choice but to invent new ones.
