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Nouriel Roubini speaks positively about Bitcoin

by Brian Armstrong

Nobel Laureate Nouriel Roubini has begrudgingly called Bitcoin as a partial store of value.

Although his opinion on altcoins remains unchanged, he believes that Bitcoin’s limited supply is its advantage but is not scalable enough. 

Nobel Laureate calls Bitcoin Partial storage of value

In one of his interviews, the much-acclaimed Noble Laureate Nouriel Roubini has proclaimed that Bitcoin is a partial store of value. He also did not fail to mention about altcoins and compared it to the US Federal Reserve which is worsening every single day. Like many Bitcoin supporters who take pride in the limited token supply of the coin, the Nobel Laureate was seen as a new supporter of Bitcoin as against any other investment in the cryptocurrency sector. 

“It may be a partial store of value because unlike thousands of others (what I call s***coins) it cannot be so easily debased because there is at least an algorithm that decides how much the supply of Bitcoin raises over time.”

After having finally acknowledged Bitcoin as a partial store of value, Nouriel Roubini has not become a pro-cryptocurrency. Mr. Doom as he is called still does not consider cryptocurrency in the league of real currencies prevalent in the market. He equated cryptocurrency with a misnomer and believes that it cannot function as a unit of account. Yet his change of mind for Bitcoin does not mean that he has nothing against it yet? He has been openly criticizing the scalability of Bitcoin and not impressed with its 5 transactions per second. He compares this to Visa’s 25,000 which makes Bitcoin look bleak in comparison. He also took his aim at the coin’s volatility because it avoids the condition of being fully fledged. 

Still critical of Bitcoin

But his stance on Bitcoin may be finally changing, especially relative to all the other altcoins that are present in the market. The Nobel Laureate back in 2013 heavily criticized Bitcoin when it was trading at $60 and now he believes that the role of Central Bank Digital Currencies(CBDCs) is taking an important role and might even make cryptos obsolete. `

“Once you have a central bank digital currency, every individual can use an account with a central bank to do payments. So not only you don’t need crypto, you don’t even need Venmo, you don’t even need a bank account, you don’t even need a check.”

Many economies are talking about the wonders of CBDC and are slowing raking in strategies for its adoption, yet Binance head CZ in an October review calls it restricted. 


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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