“It’s got this mystique about it, because it’s some fancy technological thing that nobody really understands. There’s been no demonstration yet that it actually is helpful in conducting economic transactions. There’s no anchor for its value. You know, unlike pieces of paper with dead presidents on them, those are anchored by the fact that you can use them to pay taxes. There’s not anchor for bitcoin. But bitcoin has developed this mystique.”
Paul Krugman, Economist · Bitcoin since: +315%
As published by Business Insider
A Nobel Prize-Winning Economist Says Bitcoin Is A More Obvious Bubble Than Housing Was ↗
A little perspective.
Bitcoin on that day$19,343December 16, 2017
$100 at that price$415.32At our latest price check
Illustrative value using a Bitcoin price of $80,335, checked Oct 29, 2026, 5:44 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Paul Krugman appears in 6 recorded obituaries. 93 declarations were recorded in 2017.
Keep the receipt.
Bitcoin Is Dead. “A Nobel Prize-Winning Economist Says Bitcoin Is A More Obvious Bubble Than Housing Was” — Paul Krugman, Business Insider, December 16, 2017. Bitcoin: $19,343.04. https://bitcoindeaths.com/posts/2017-12-16-a-nobel-prize-winning-economist-says-bitcoin-is-a-more-obvious-bubble-than-housing-was