Bitcoin price Ken Rogoff
Bitcoin
Kenneth Rogoff  the former chief economist of the International Monetary Fund  has weighed in on  Bitcoin .
"Is the cryptocurrency  Bitcoin  the biggest bubble in the world today  or a great investment bet on the cutting edge of new-age financial technology?" the professor of economics and public policy at Harvard asks in a column on Project-Syndicate titled "Crypto-Fool's Gold?"
"My best guess is that in the long run  the technology will thrive  but that the price of  Bitcoin  will collapse."
 Bitcoin 's price has exploded over the last two years  and has climbed more than 350% since the start of 2017.
A number of top Wall Streeters have recently have expressed concerns about  Bitcoin . JPMorgan CEO Jamie Dimon called it "a fraud" that is "worse than the tulip bulbs " referring the 17th century Dutch tulip-mania bubble. BlackRock Chairman and CEO Larry Fink  meanwhile  told Bloomberg News that "it just identifies how much money laundering there is being done in the world."
 Bitcoin and other digital currencies' transactions  are done anonymously.  They  aren't monitored by central banks like  say  the dollar or the euro. In his piece  Rogoff suggests that if  Bitcoin  was no longer anonymous and more regulated  then  its  price might not be sustainable.
"Were  Bitcoin  stripped of  its  near-anonymity  it would be hard to justify  its  current price " he wrote. "Perhaps  Bitcoin  speculators are betting that there will always be a consortium of rogue states allowing anonymous  Bitcoin  usage  or even state actors such as North Korea that will exploit it."
"The long history of currency tells us that what the private sector innovates  the state eventually regulates and appropriates " he wrote. "I have no idea where  Bitcoin ’s price will go over the next couple years  but there is no reason to expect virtual currency to avoid a similar fate."
Get the latest  Bitcoin  price here.
Kenneth Rogoff  the former chief economist of the International Monetary Fund  has weighed in on [TGT] .
"Is the cryptocurrency  Bitcoin  the biggest bubble in the world today  or a great investment bet on the cutting edge of new-age financial technology?" the professor of economics and public policy at Harvard asks in a column on Project-Syndicate titled "Crypto-Fool's Gold?"
"My best guess is that in the long run  the technology will thrive  but that the price of  Bitcoin  will collapse."
 Bitcoin 's price has exploded over the last two years  and has climbed more than 350% since the start of 2017.
A number of top Wall Streeters have recently have expressed concerns about [TGT] . JPMorgan CEO Jamie Dimon called it "a fraud" that is "worse than the tulip bulbs " referring the 17th century Dutch tulip-mania bubble. BlackRock Chairman and CEO Larry Fink  meanwhile  told Bloomberg News that "it just identifies how much money laundering there is being done in the world."
 Bitcoin and other digital currencies' transactions  are done anonymously.  They  aren't monitored by central banks like  say  the dollar or the euro. In his piece  Rogoff suggests that if  [TGT]was no longer anonymous and more regulated  then  [TGT]  price might not be sustainable.
"Were  [TGT]stripped of  [TGT]  near-anonymity  [TGT] would be hard to justify  [TGT]  current price " he wrote. "Perhaps  [TGT]speculators are betting that there will always be a consortium of rogue states allowing anonymous  [TGT]usage  or even state actors such as North Korea that will exploit it."
"The long history of currency tells us that what the private sector innovates  the state eventually regulates and appropriates " he wrote. "I have no idea where  Bitcoin ’s price will go over the next couple years  but there is no reason to expect virtual currency to avoid a similar fate."
Get the latest  [TGT]price here.