Nouriel Roubini, who gained fame after predicting the 2008 financial crisis, warns that Bitcoin will be regulated to the extent that it will "find its end," Business Insider Poland reported.
According to him, “there is a gigantic speculative bubble related to the Bitcoin, because this is neither a serious method of payment nor a good way to store capital.”
“The Bitcoin feeds on itself. There are no fundamental reasons for its price to reach such levels. What’s more – it is also used by criminals, for their shady business,” he said in an interview with Business Insider Poland.
“I think that more and more countries will start to make cryptocurrency exchanges illegal like China did. New regulations will be adopted. So, this will find its end,” Roubini added.
At the same time he said the blockchain technology should be separated from Bitcoin.
“Blockchain creates an enormous chance to increase productivity in many companies, and I think the technology to be something very good,” Roubini said.
According to him, there’s something entirely different with Bitcoin and other cryptocurrencies.