Nobel Prize-winning economist Robert Shiller has been known to dabble in unconventional investments in the past: In the 1980s he bought shares of Apple at the same time as he owned Berkshire Hathaway stock, for example. More recently, he became an early investor in bitcoin, even though he hadn’t initially heard of the cryptocurrency. Now, Shiller is mulling a new venture in the cryptocurrency space, he revealed in an interview on CNBC’s Squawk Box earlier today.
Nobel Prize-winning economist Robert Shiller, the man most famous for predicting the dotcom bubble and the housing crash, has recently said that he regrets Bitcoin is not included in his investment portfolio.
“I have a Nobel Prize in economics and I’m saying that bitcoin is a bubble,” says Robert Shiller , who also shared his views on whether bitcoin is the future of money and the potential for a bitcoin ETF. “I think it’s a bubble that’s going to give a lot of people a lot of exciting times as it rides up and then goes down.”Robert Schiller, Nobel laureate and Yale professor, is critical of the cryptocurrency market. He is considering investing in cryptocurrencies to test the market. I’ve never bought Bitcoin. Maybe I should be active in this market, he said.
Yale professor and Nobel laureate reflects on how to combat cryptocurrencies
Nobel laureate Robert Schiller spoke about cryptocurrencies in an interview with CNBC published on Sunday. Schiller, along with Eugene Fama and Lars Peter Hansen, was awarded the Sveriges Riksbank Prize for Economic Sciences in 2013 in memory of Alfred Nobel for his empirical analysis of asset prices, according to the Nobel Prize website. He is currently Sterling Professor of Economics at Yale University. Schiller is concerned about the current real estate market, stocks and cryptocurrencies and says he sees a Wild West mentality among investors in these markets. On the cryptocurrency market in particular, Schiller said: It’s a very psychological market. This is an impressive technology. However, he argued that the ultimate source of value is so ambiguous that it has more to do with our perception than with reality. However, he said he was tempted to get into cryptocurrencies. The Nobel Prize-winning economist shared: I’m thinking of buying it to try the effects. A lot of people do. I’ve never bought Bitcoin. Maybe I should be active in this market. Schiller has always been skeptical of bitcoin. In 2017, he said the best example of irrational exuberance or speculative bubbles was bitcoin. In 2018, he said it looked like a bubble and doubted cryptocurrencies would still exist in 100 years. Yet he remarked: I don’t want to denigrate bitcoin by adding that cryptocurrencies can have good things too. Meanwhile, another Nobel laureate, Paul Krugman, said last week that he rejects predictions of bitcoin’s imminent demise: There is always a new crop of believers. Perhaps it should be seen as a cult that can exist indefinitely. Do you think Nobel Prize winner Robert Schiller should buy bitcoins? Let us know your comments in the section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Nobel Prize-winning economist Robert Shiller, who famously predicted both the dot-com bubble and the housing bubble, thinks the bitcoin market is “not rational”, and that the cryptocurrency’s astronomical price fluctuations are “worrisome.” Shiller, who is best known for his work on behavioral finance and housing bubbles, is a professor of economics at Yale University and at the Wharton School of the University of Pennsylvania. He made his comments in an interview with Bloomberg TV’s “Market Makers” on Tuesday, in which he also said he is not currently investing in bitcoin.. Read more about robert shiller gold and let us know what you think.
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