Yale financial matters teacher and Nobel Laureate Robert Shiller has conceded in a meeting with CNBC Thursday, Jan. 18., that he now “doesn’t know what to make of Bitcoin ultimately” after earlier calling it “the best example of a bubble”.
In crisp remarks Thursday, a while after he told host Brian Kelly it was Bitcoin's "story" not its esteem that had started open enthusiasm for it, Shiller told columnists “it [Bitcoin] has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn't see it as an investment,” rehashing a common narrative that investment in Bitcoin resembles the seventeenth century Tulip Mania.
In spite of the fact that he conceded his vulnerability in the matter of what Bitcoin's destiny will be, Shiller general stays suspicious, expressing:
<< [Bitcoin] might totally collapse and be forgotten and I think that's a good likely outcome but it could linger on for a good long time, it could be here in 100 years. >>
Bitcoin's two-day slump this week has incompletely recouped to challenge $12,000, making it worth more than 160 percent more than when Shiller made his past bubble claims toward the beginning of September, 2017.