This Harvard Economist Once Predicted That Bitcoin Had A Greater Chance Of Falling To ...

Harvard Economics Professor Kenneth Rogoff explains why his 2018 prediction that Bitcoin would crash to $100 rather than reach $100,000 proved spectacularly wrong.

Rogoff, former IMF chief economist, attributes Bitcoin's success to regulatory failures, increased illicit activity, and alleged corruption rather than legitimate technological innovation. He maintains his original view that cryptocurrency primarily serves money laundering and tax evasion purposes, expressing surprise at the lack of meaningful government crackdowns. The professor admits he underestimated Bitcoin's role in the global underground economy and didn't anticipate regulatory conflicts of interest.

• Bitcoin has surged past $100,000, proving Rogoff's bearish 2018 forecast dramatically incorrect
• Rogoff blames regulatory failures and illicit use cases for Bitcoin's growth rather than acknowledging legitimate adoption
• Bitcoin advocates argue Rogoff still fundamentally misunderstands cryptocurrency and blockchain technology
• The debate highlights ongoing tensions between traditional economists and cryptocurrency supporters over digital asset legitimacy