The future of bitcoin: stay with us for centuries or burst really soon
Yale University Professor Robert Shiller told CNBC about his vision of the future of bitcoin. In his opinion, the cryptocurrency craze is similar to the tulip mania in the Netherlands. The question of whether the tulip bulb market has collapsed has no answer: people used to buy them and will continue to do so. Moreover, some even pay huge amounts for exclusive kinds.
Based on this example, we can conclude that bitcoin may exist for centuries, or burst really soon.
Robert notes that bitcoin is a speculative bubble that has no value. Most often, it is considered an investment, but without a «social contract», it does not make sense, unlike precious metals such as gold or silver. These materials can be used in everyday life, even if humanity does not consider them as objects for investment anymore.